Baker Hughes Inc. BHI reported first-quarter 2016 adjusted loss from continuing operations of 44 cents a share, which came in wider than the Zacks Consensus Estimate of 33 cents loss per share. The quarterly figure also deteriorated from the year-ago adjusted loss of 7 cents a share.The decline stemmed from a sharp decrease in activity and the ongoing pricing pressure as exploration and production companies further adjust their spending to the continued drop in commodity prices. Total revenue of $2,670 million declined from the year-ago level of $4,594 million and missed the Zacks Consensus Estimate of $2,870 million. Of Baker Hughes' total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 31%, 27%, 23% and 10%, respectively. The remainder was generated by the Industrial Services segment.LiquidityAt the end of the first quarter of 2016, Baker Hughes had $2,192.0 million in cash and cash equivalents, while long-term debt was $3,885.0 million. In the reported quarter, capital expenditures totaled $86 million, reflecting a decrease of $128 million or 60% sequentially, and $229 million or 73% from the first quarter of 2015. The reduction in capital expenditure is attributable to lower activity levels and focus on capital discipline.Depreciation and amortization expense was $354 million, down 15% sequentially and 23% year over year. The decline is primarily related to the prior-year impairment and restructuring actions.Zacks Rank & Other StocksCurrently, Baker Hughes carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are Vanguard Natural Resources, LLC VNR, Antero Resources Corporation AR and PetroChina Co. Ltd. PTR. Each of these stocks sports a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BAKER-HUGHES (BHI): Free Stock Analysis Report PETROCHINA ADR (PTR): Free Stock Analysis Report VANGUARD NATURL (VNR): Free Stock Analysis Report ANTERO RESOURCE (AR): Free Stock Analysis Report To read this article on Zacks.com click here.