Baker Hughes Company (NASDAQ:BKR) Announces $0.23 Quarterly Dividend

Baker Hughes Company (NASDAQ:BKR) declared a quarterly dividend on Sunday, July 26th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.23 per share on Monday, August 17th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th.

Baker Hughes has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Baker Hughes has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Baker Hughes to earn $2.80 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 32.9%.

Baker Hughes Price Performance

Shares of BKR opened at $57.25 on Monday. The stock’s 50-day moving average price is $60.00 and its two-hundred day moving average price is $59.97. Baker Hughes has a 12 month low of $41.96 and a 12 month high of $70.41. The company has a market capitalization of $56.80 billion, a PE ratio of 18.29, a PEG ratio of 2.38 and a beta of 0.96. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.15. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.51 billion. On average, analysts anticipate that Baker Hughes will post 2.26 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction 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 transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 in the last quarter. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

Large investors have recently made changes to their positions in the company. Bleakley Financial Group LLC raised its stake in Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after buying an additional 163 shares during the period. Resolute Wealth Strategies LLC increased its holdings in shares of Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after acquiring an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after purchasing an additional 179 shares during the period. Krilogy Financial LLC lifted its holdings in shares of Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares in the last quarter. Finally, 3Chopt Investment Partners LLC lifted its holdings in shares of Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after purchasing an additional 203 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

About Baker Hughes

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.