Baker Hughes Company (BKR) to Issue Quarterly Dividend of $0.23 on August 17th

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Friday, August 7th will be given a dividend of 0.23 per share on Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 7th.

Baker Hughes has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Baker Hughes has a payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 31.7%.

Baker Hughes Stock Up 1.5%

Shares of Baker Hughes stock opened at $61.73 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $61.28 billion, a P/E ratio of 19.91, a PEG ratio of 1.93 and a beta of 0.97. The firm’s 50 day moving average price is $59.15 and its 200-day moving average price is $60.50. Baker Hughes has a 52-week low of $41.96 and a 52-week high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Baker Hughes will post 2.46 EPS for the current fiscal year.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 367,910 shares of company stock worth $22,420,797. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas lifted its stake in shares of Baker Hughes by 7.3% in the first quarter. USA Financial Formulas now owns 19,564 shares of the company’s stock worth $1,194,000 after buying an additional 1,330 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in Baker Hughes by 5.0% in the 2nd quarter. Insight Wealth Strategies LLC now owns 100,692 shares of the company’s stock worth $5,419,000 after purchasing an additional 4,804 shares in the last quarter. Tema ETFs LLC lifted its stake in Baker Hughes by 10.7% in the 2nd quarter. Tema ETFs LLC now owns 25,450 shares of the company’s stock worth $1,412,000 after purchasing an additional 2,465 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in shares of Baker Hughes by 7.2% during the 2nd quarter. GoalVest Advisory LLC now owns 40,643 shares of the company’s stock worth $2,256,000 after purchasing an additional 2,729 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in shares of Baker Hughes by 0.8% in the second quarter. Oliver Luxxe Assets LLC now owns 156,744 shares of the company’s stock valued at $8,699,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.