Baker Hughes (BKR) to Issue Quarterly Dividend of $0.23 on February 21st

Baker Hughes (NASDAQ:BKR) announced 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 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change 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 28.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.55 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 32.9%.

Baker Hughes Price Performance

Shares of BKR opened at $46.18 on Friday. 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 firm has a market capitalization of $45.70 billion, a PE ratio of 20.71, a P/E/G ratio of 0.83 and a beta of 1.39. The stock has a 50 day simple moving average of $43.00 and a 200 day simple moving average of $39.00. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.60.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler assumed coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price on the stock. Benchmark reissued a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Bank of America upped their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.06.

Insider Transactions at Baker Hughes

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