Baker Hughes Declares Quarterly Dividend of $0.21 (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Friday, May 3rd.

Baker Hughes has raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 3 years. Baker Hughes has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.1%.

Baker Hughes Trading Down 1.0 %

Shares of Baker Hughes stock opened at $32.67 on Thursday. The company has a market capitalization of $32.70 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.61 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The firm’s 50-day moving average price is $31.89 and its two-hundred day moving average price is $32.55.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, analysts forecast that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. UBS Group raised their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Finally, Susquehanna restated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.