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

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Monday, May 6th will be given a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd.

Baker Hughes has raised its dividend payment by an average of 2.7% per year over the last three years and has increased its dividend every year for the last 3 years. Baker Hughes has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

BKR opened at $31.89 on Thursday. The company has a market capitalization of $31.92 billion, a P/E ratio of 17.82, a PEG ratio of 0.56 and a beta of 1.44. The company has a 50-day moving average of $32.25 and a 200-day moving average of $32.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Equities analysts expect that Baker Hughes will post 2.08 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Barclays reduced their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, UBS Group lifted their target price on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average 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.