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

Baker Hughes (NASDAQ:BKR) 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 annualized dividend and a dividend yield of 2.55%.

Baker Hughes has increased its dividend 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 payout ratio of 32.7% indicating that 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 Stock Up 1.7 %

BKR stock opened at $33.00 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $31.82 and its 200 day moving average is $32.55. The stock has a market cap of $33.03 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. 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 data on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. Sell-side analysts predict that Baker Hughes will post 2.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on BKR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Barclays dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Morgan Stanley raised their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of 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 is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.