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

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Monday, May 6th will be paid a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.55%.

Baker Hughes has increased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Baker Hughes has a payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

NASDAQ:BKR traded up $0.54 during midday trading on Tuesday, hitting $33.00. 7,383,178 shares of the stock were exchanged, compared to its average volume of 8,736,161. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 0.62 and a beta of 1.42. The business has a 50-day moving average price of $31.74 and a two-hundred day moving average price of $32.56. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes will post 2.07 EPS for the current year.

Insider Activity

In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes 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 owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. UBS Group upped their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.