Baker Hughes (BKR) to Issue Quarterly Dividend of $0.21 on November 14th

Baker Hughes (NASDAQ:BKR) declared a quarterly dividend on Tuesday, October 22nd, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.21 per share on Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, November 4th.

Baker Hughes has increased its dividend by an average of 2.7% per year over the last three years. Baker Hughes has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Baker Hughes to earn $2.67 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 31.5%.

Baker Hughes Trading Up 2.8 %

Baker Hughes stock opened at $37.00 on Thursday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $35.61 and a two-hundred day moving average price of $34.35. The stock has a market cap of $36.93 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the firm posted $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Baker Hughes will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent research reports. Stifel Nicolaus increased their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Bank of America dropped their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Evercore ISI increased their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.59.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.