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

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Investors of record on Monday, November 4th will be paid a dividend of 0.21 per share on Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.28%. 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 dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:BKR traded up $0.89 on Wednesday, hitting $36.87. The company’s stock had a trading volume of 5,788,505 shares, compared to its average volume of 7,204,626. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market capitalization of $36.80 billion, a PE ratio of 20.10, a PEG ratio of 0.61 and a beta of 1.38. The company has a 50-day simple moving average of $35.57 and a 200 day simple moving average of $34.33.

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

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BKR. Stifel Nicolaus upped their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.59.

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.