Baker Hughes (NASDAQ:BKR – Get Free Report) declared 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 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd.
Baker Hughes has raised its dividend by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Baker Hughes has a dividend 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 %
Baker Hughes stock opened at $32.67 on Thursday. The company has a 50 day moving average price of $31.89 and a 200 day moving average price of $32.55. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 0.61 and a beta of 1.42.
Insiders Place Their Bets
In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes 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 sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on BKR. Citigroup decreased 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. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Barclays decreased their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Finally, Susquehanna reissued a “positive” rating and set a $40.00 target price 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 issued a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $40.94.
Read Our Latest Research Report on Baker Hughes
About Baker Hughes
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.
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