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

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Shareholders of record on Tuesday, August 6th will be given a dividend of 0.21 per share on Friday, August 16th. This represents a $0.84 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, August 6th.

Baker Hughes has increased its dividend payment by an average of 2.7% annually over the last three years. Baker Hughes has a dividend payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.60 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 32.3%.

Baker Hughes Stock Performance

NASDAQ BKR opened at $37.65 on Friday. The firm has a market cap of $37.57 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $33.64 and its 200-day moving average is $32.23. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.78.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes will post 2.09 earnings per share for the current year.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Friday. UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Piper Sandler cut their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.92.

Baker Hughes Company Profile

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.