Baker Hughes (NASDAQ:BKR) to Issue $0.21 Quarterly Dividend

Baker Hughes (NASDAQ:BKR - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.55%.

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

Baker Hughes stock traded up $0.54 during midday trading on Tuesday, reaching $33.00. 7,401,325 shares of the stock traded hands, compared to its average volume of 8,736,500. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $31.82 and a two-hundred day moving average price of $32.55. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts forecast that Baker Hughes will post 2.07 earnings per share for the current year.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Citigroup cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 26th. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Barclays cut their target price on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, January 26th. Finally, Wolfe Research lowered shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

About Baker Hughes

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.