Baker Hughes Company (NASDAQ:BKR) Shareholders to Get $0.23 Quarterly Dividend

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.23 per share on Friday, November 20th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 10th.

Baker Hughes has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 4 years. Baker Hughes has a dividend payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.95 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 31.2%.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $59.00 on Wednesday. Baker Hughes has a one year low of $44.26 and a one year high of $70.41. The stock’s 50-day moving average is $58.68 and its 200 day moving average is $59.97.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.75 billion. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. Analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research reports. UBS Group dropped their target price on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Citigroup decreased their price objective on Baker Hughes from $75.00 to $72.00 and set a “buy” rating for the company in a report on Monday, October 19th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley began coverage on Baker Hughes in a research report on Friday, August 7th. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Susquehanna raised their price target on shares of Baker Hughes from $72.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.