Baker Hughes (NASDAQ:BKR – Get Free Report) 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.
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.
View Our Latest Analysis on Baker Hughes
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.
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