Baker Hughes (NASDAQ:BKR – Get Free Report) 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.
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.
Check Out Our Latest Stock Report 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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