The Dividend Daily

Dahlman Rose reported on Monday that they have downgraded oil services company, Baker Hughes Incorporated(BHI) to a “Hold.”

The firm has cut their rating for BHI from a “Buy” to a “Hold.” Additionally, the firm reported downgrades on eight other oil services company which have recently reported strength.

An analyst from the firm commented, “we continue to have a positive view on the performance of the oil service group,” the analyst said. “At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group.”

Baker Hughes shares were down 41 cents, or -0.90% during premarket trading Monday. The stock has declined -4% in the past year.

The Bottom Line
Shares of Baker Hughes Incorporated(BHI) have a 1.31% yield, based on Friday’s closing price of $45.65.

Baker Hughes Incorporated(BHI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.