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

Baker Hughes (NASDAQ:BKR - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Stockholders of record on Tuesday, May 6th will be given a dividend of 0.23 per share on Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Tuesday, May 6th.

Baker Hughes has raised its dividend by an average of 5.3% per year over the last three years. Baker Hughes has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.8%.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.01 during trading hours on Friday, reaching $36.39. The company's stock had a trading volume of 2,289,736 shares, compared to its average volume of 6,894,411. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $36.03 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company's 50 day simple moving average is $41.60 and its 200 day simple moving average is $42.05.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. As a group, analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Analyst Ratings Changes

BKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. TD Cowen decreased their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday. Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company increased their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% 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.