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Baker Hughes

Baker Hughes

$BKR
NASDAQEnergy

209 stories mentioning Baker HughesUpdated 1d ago

Baker Hughes reported US rigs rising by one to 550 amid a Permian and Haynesville land-drilling rebound, while crude posted a weekly loss.

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Oil & Energy

Middle East Rig Count Dropped in March, RBC Says

Middle East onshore rig counts fell by 43 rigs, or 5% over the month in March, while offshore counts declined by 10 rigs, or 4%, RBC Capital Markets strategists said in a Tuesday note.These disruptions, along with higher logistics and staffing costs, are expected to pressure first-half results for companies with regional exposure, RBC said.In the US, Q1 rig counts totaled 530, down 7% over the year but above RBC's estimate of 518, prompting an upward revision to its 2026 forecast to 544 from 526.RBC expects activity to remain supported by higher oil prices, easing concerns about a potential drop in West Texas Intermediate crude to $50 per barrel coming into 2026.In Canada, rig counts reached 216, down 4% over the year but slightly above RBC's estimate of 214, with spending expected to remain broadly flat, RBC said.Meanwhile, oilfield services stocks have surged about 36% in 2026, with valuations shifting higher as the sector heads into the Q1 earnings season, strategists said.RBC said Q1 reporting begins Apr. 21 with Halliburton (HAL), Saipem, and Weatherford (WFRD), as investors assess geopolitical risks and future production recovery trends, the report said.RBC said US-focused companies have outperformed peers with Middle East exposure this year, reflecting stronger domestic activity trends and fewer geopolitical disruptions.The firm's top picks include Schlumberger (SLB), Baker Hughes (BKR), TechnipFMC (FTI), Enerflex (EFXT), Patterson-UTI Energy (PTEN), Hunting and CES Energy Solutions, according to the note.Meanwhile, RBC lowered its Q1 EBITDA estimates by 2.4%, with the largest revisions for Schlumberger (SLB) and Trican Well Service (TCW), while raising forecasts for Saipem, TechnipFMC and Enerflex.The revised estimates generally fall below consensus, particularly for Trican Well Service, Atlas Energy Solutions (AESI) and Calfrac Well Services (CFW), while exceeding expectations for Halliburton, Enerflex and Ensign Energy Services, RBC said.RBC downgraded Trican Well Service to sector perform from outperform with a $7.50 price target and cut NOV (NOV) to sector perform from outperform with a $21 price target.

$AESI$BKR$EFXT$FTI$HAL$NOV$PTEN$SLB$WFRD
Sectors

Sector Update: Energy Stocks Rise Premarket Monday

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 6.7% and The United States Natural Gas Fund (UNG) was 1.6% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.8% to $101.68 per barrel, and natural gas futures were up 2% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.8% pre-bell.Baker Hughes (BKR) shares were up more than 1% after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.EQT (EQT) and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg News reported, citing people with knowledge of the matter. EQT stock was up more than 1% premarket.

$BKR$BP$EQT$KKR$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Trump Prepares to Block Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Monday's premarket activity after US President Donald Trump said the US will block the Strait of Hormuz following unsuccessful negotiations with Iran over the weekend.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 1%, and Nasdaq futures retreating 0.7% before the start of regular trading.The existing home sales data for March will be released at 10 am ET.Federal Reserve Governor Stephen Miran is slated to speak on Monday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower, Ether ETF (EETH) retreated 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was down 0.7%.Spyre Therapeutics (SYRE) stock was up more than 24% premarket after the company said that its SPY001 investigational drug to treat moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%. The iShares US Consumer Staples ETF (IYK) was up 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.Leggett & Platt (LEG) shares were up more than 8% pre-bell after Somnigroup International (SGI) agreed to acquire Leggett & Platt in an all-stock deal valued at about $2.50 billion. Somnigroup stock was down 1.7% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.8% lower, while the iShares Semiconductor ETF (SOXX) declined by 1%.ON Semiconductor (ON) shares were up more than 3% in premarket activity after BofA Securities upgraded the company's stock to buy from neutral.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell by 1%. Direxion Daily Financial Bull 3X Shares (FAS) declined by 2.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.9% higher.Lloyds Banking Group (LYG) shares were down more than 2% pre-bell after the company said it is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) fell 0.8% and the iShares US Industrials ETF (IYJ) was 0.4% lower.MDA Space (MDA) stock was up more than 1% before the opening bell after the company introduced a space control platform aimed at helping defense organizations monitor, protect, and secure critical space infrastructure.EnergyThe iShares US Energy ETF (IYE) was up 1.7%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.9%.Baker Hughes (BKR) stock was up more than 1% before Monday's opening bell after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.CommoditiesFront-month US West Texas Intermediate crude oil rose by 8% to $104.27 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.5% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 7.4%, while the United States Natural Gas Fund (UNG) was 1.9% higher.Gold futures for May were down by 1.2% at $4,728.90 an ounce on the Comex. Silver futures fell by 3.1% to $74.11 an ounce. SPDR Gold Shares (GLD) was 1% lower, and the iShares Silver Trust (SLV) advanced by 2.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BKR$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEG$LYG$MDA$ON$PMR$QQQ$RTH$SGI$SLV$SOXX$SPY$SYRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Baker Hughes to Sell Waygate for $1.45 Billion to Hexagon

Baker Hughes (BKR) said Monday has entered into a definitive agreement to sell its Waygate Technologies business to Hexagon for approximately $1.45 billion in an all-cash transaction.The transaction is subject to customary closing conditions and regulatory approvals, with an expected completion date in the second half of 2026.The buyer, Stockholm-based Hexagon, specializes in precision measurement and autonomous solutions serving industries such as aerospace, defense, automotive, and construction.

$BKR
Oil & Energy

Crude Benchmarks Log Weekly Decline Amid 2-Week Ceasefire Deal

Global oil benchmarks posted a weekly decline on Friday after prices fell below the $100 per barrel mark earlier this week following the US-Iran ceasefire agreement.West Texas Intermediate closed Friday at $95.63/bbl, down from $111.54/bbl the previous week, while Brent futures settled at $94.36/bbl, down from $109.24/bbl a week earlier."Saudi Arabia said its production capacity has been reduced due to attacks on energy infrastructure, though futures remain on track for their biggest weekly loss since June, down more than 10% this week after the US and Iran announced a ceasefire," Saxo Bank analysts noted.The week began with prices over $110/bbl on Monday as the conflict involving the US, Israel, and Iran intensified.However, the trajectory broke sharply on Wednesday following President Trump's announcement of a two-week "bombing suspension" and ceasefire mediated by Pakistan.This triggered a historic relief crash, with WTI May futures and Brent June futures both shedding nearly 16-20% in a single session, briefly touching lows near $93-$94 as traders priced in a potential reopening of the Strait of Hormuz.However, the risk premium began to seep back into the market as optimism over the ceasefire faded as Tehran accused Washington of breaching the truce's 10-point framework on Thursday, citing continued US drone incursions and strikes in Lebanon.Meanwhile, US President Donald Trump warned Iran on Thursday amid reports that Tehran has started charging transit fees on tankers navigating the Strait of Hormuz, as shipping through the key waterway remains largely restricted despite the ceasefire deal.Despite the diplomatic breakthrough, shipowners remain paralyzed by war-risk insurance premiums, disrupted tanker rotations, and the lingering threat of Iranian transit fees in the Strait of Hormuz.Maritime data showed that only a handful of non-Iranian tankers had successfully transited the Strait of Hormuz since the ceasefire began, as global shipping giants like Hapag-Lloyd refused to resume routes until security is guaranteed.Even with the ceasefire holding, ANZ analysts expect only a partial recovery of 2-3 million barrels per day in the near term, with a credible risk that 1-2 mb/d of capacity may be permanently lost due to infrastructure damage.J.P. Morgan analysts said that "in the nearly six weeks since the conflict began, more than 60 energy infrastructure assets in the Gulf have been affected by drone and missile strikes, with roughly 50 sustaining different degrees of damage."Over 80% of countries are net oil importers, leaving the majority of global economies exposed to rising energy costs and supply disruptions during the shock, the International Monetary Fund said Thursday.The drop in supply has also disrupted refining operations, as facilities struggle to maintain minimum throughput levels amid reduced crude availability, the IMF added.On the supply side, US crude stockpiles rose by 3.1 mmbbls to 464.7 mmbbls in the week ended Apr. 3, the Energy Information Administration said in its weekly report on Wednesday.The number of oil rigs in the US held steady at 411 from last week, in the week ending Apr. 10, according to data from Baker Hughes (BKR) released Friday. The US had 472 oil rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by 10 to 680 from 690 the previous week.Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended Apr. 7, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released Friday.The data showed that money managers reported 223,091 long positions, up 8,334 from Mar. 31, while short positions were also up 1,213 to 85,253.

$BKR
Oil & Energy

US Natural Gas Posts Weekly Decline on Iran Ceasefire, Bearish Weather Forecasts

US natural gas futures settled lower over the week, amid the ceasefire between the US, Israel and Iran, along with bearish weather forecasts.The front-month contract price fell over the week to $2.65 per million British thermal units, from $$2.80/MMBtu on Apr. 2.The markets were off to a strong start this week but trended lower after Iran announced ceasefire negotiations, hinting at a quick resolution of hostilities in the Middle East.While the truce is temporary, set to last only for two weeks, and already showing its fragility, it did manage to calm the markets over the week.For the week ended Apr. 8, the May 2026 Nymex contract was down $0.09 at $2.72/MMBtu, compared with $2.81/MMBtu the prior week, the Energy Information Administration's Weekly Gas Storage Supplement said.Natural gas spot prices fell by $0.19 to $2.80/MMBtu during the week ended Apr. 8, according to the EIA, from $2.99/MMBtu last week. Price changes were mixed across most regional hubs, from a $0.56/MMBtu decrease at the Waha Hub to a $0.20 gain at the SoCal border.Prices across the Gulf Coast and Southeast regions were similarly mixed, with a $0.21 decline at the Florida Gas Zone 3 to $2.83/MMBtu and a $0.06 rise at the Houston Ship Channel to $2.44/MMBtu.Natural gas consumption in the Southeast electric power sector rose 3%, or 0.2 billion cubic feet per day, according to the EIA, citing LSEG data.The EIA reported a net injection of 50 Bcf into storage for the week ended Apr. 3, up from a net injection of 36 Bcf last week, and bringing total gas inventories to 1,911 Bcf.During the same week last year, the EIA reported a net injection of 53 Bcf, while the five-year average for this period was an injection of 13 Bcf. This week's figures were also above the 41 Bcf forecast, according to data compiled by Investing.com.The total gas inventories at 1,911 Bcf are now 89 Bcf, or 5% above the corresponding period a year ago, and 87 Bcf, which is again 5% higher than the five-year average for this period.Working gas in storage rose across all regions, except the Mountain, with South Central posting the largest gain of 32 Bcf, bringing its balances to 1.2% above its five-year average.Meanwhile, inventories across the East and Midwest have narrowed their working gas deficits to just 11% relative to their respective five-year averages.According to Pinebrook Energy Advisors, the EIA weekly report offered little new direction for the market. Demand is expected to continue its seasonal decline amid above-normal temperatures across most of the country, which is expected to hit cooling gas demand.A total of 37 liquefied natural gas carrying vessels left US ports during the week, down from 39 vessels last week. The total capacity of these vessels stood at 141 Bcf, down 8 Bcf from the prior week.Weather forecasts continued to turn bearish, with almost the entire country expected to see above-normal temperatures from Apr. 17 to Apr. 23, according to the National Weather Service.The number of gas rigs dropped by three from 130 the previous week to 127, in the week ending Apr. 10, according to data from Baker Hughes (BKR) released Friday. The US had 105 gas rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by 10 to 680 from 690 the previous week.In international markets, European TTF gas prices averaged $16.88/MMBtu for the week ended Apr. 8, $0.86/MMBtu lower compared to the previous week. The Japan-Korea Marker averaged $19.85/MMBtu, about $0.43/MMBtu lower than the prior week.

$BKR
Commodities

Update: US Rig Count Drops by 3, Baker Hughes Says

(Updates to include additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US dropped by three to 545 in the week ending Apr. 10, according to data from Baker Hughes (BKR) released Friday.The number of oil rigs in the US held steady at 411 from last week, while the number of gas rigs dropped by three from 130 the previous week to 127.The number of miscellaneous rigs in the US held steady at seven from last week, the data revealed. The US had 472 oil, 105 gas, and six miscellaneous rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by 10 to 680 from 690 the previous week.Price: $62.79, Change: $-0.63, Percent Change: -1.00%

$BKR
Commodities

US Rig Count Drops by 3, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US dropped by three to 545 in the week ending Apr. 10, according to data from Baker Hughes (BKR) released Friday.The number of oil rigs in the US held steady at 411 from last week, while the number of gas rigs dropped by three from 130 the previous week to 127.Price: $62.79, Change: $-0.63, Percent Change: -0.99%

$BKR
Commodities

US Rig Count Drops by 3, Baker Hughes (BKR) Says

US Rig Count Drops by 3, Baker Hughes (BKR) Says

$BKR

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