Baker Hughes (NASDAQ:BKR) Plans Quarterly Dividend of $0.23

Baker Hughes (NASDAQ:BKR) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Tuesday, February 11th will be given a dividend of 0.23 per share on Friday, February 21st. This represents a $0.92 annualized dividend and a yield of 2.06%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21.

Baker Hughes has raised its dividend payment by an average of 5.3% annually over the last three years. Baker Hughes has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.56 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 32.8%.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $1.53 during trading on Thursday, reaching $44.60. The company’s stock had a trading volume of 11,013,352 shares, compared to its average volume of 7,087,644. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The business’s fifty day moving average price is $43.00 and its 200-day moving average price is $38.96. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. Baker Hughes has a one year low of $28.32 and a one year high of $47.47.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. As a group, equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

BKR has been the topic of a number of recent research reports. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.06.

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.