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

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 2.55%.

Baker Hughes has raised its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 3 years. Baker Hughes has a payout ratio of 32.7% meaning 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 Up 1.7 %

Baker Hughes stock traded up $0.54 during trading hours on Tuesday, reaching $33.00. 7,383,178 shares of the company’s stock were exchanged, compared to its average volume of 8,736,161. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm’s 50 day simple moving average is $31.74 and its 200 day simple moving average is $32.56. The firm has a market capitalization of $33.03 billion, a PE ratio of 17.24, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. Research analysts predict that Baker Hughes will post 2.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BKR shares. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Citigroup reduced 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 note on Friday, January 26th. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Activity

In related news, SVP James E. Apostolides sold 5,000 shares of the company’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 value of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes 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 sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.