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U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
Baker Hughes is focusing on turning around operations and creating a compelling story for the next megatrend in the oil and gas industry.
In its weekly release, Baker Hughes (BKR) reports that its count of oil and gas rigs has increased for two successive weeks.
The latest trading day saw Baker Hughes (BKR) settling at $29.48, representing a -0.81% change from its previous close.
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In its weekly release, Baker Hughes (BKR) reports that its count of oil and gas rigs has increased in five of the past 10 weeks.
In the most recent trading session, Baker Hughes (BKR) closed at $29.20, indicating a -0.48% shift from the previous trading day.
Baker Hughes (BKR) reported earnings 30 days ago. What's next for the stock?
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In its weekly release, Baker Hughes (BKR) reports that its count of oil and gas rigs has decreased in five of the past 10 weeks.
BP (NYSE: BP ) reported excellent Q4 2023 results on February 6. It continued the cavalcade of excellent fourth-quarter reports from oil and gas stocks.
Baker Hughes' (BKR) increase in quarterly cash dividend aligns with its goal of increasing dividends over time.
The slowing economy has weakened oil demand. Weakness in the price of LNG, combined with a pause in decisions over LNG terminals, has hurt sentiment toward the sector.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
Lorenzo Simonelli, Baker Hughes CEO, says "we see natural gas playing a key role in providing energy security, affordability and sustainability."
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