Baker Hughes (NASDAQ:BKR) Announces Earnings Results

Baker Hughes (NASDAQ:BKR - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07, Zacks reports. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $1.58 during midday trading on Friday, hitting $46.18. The stock had a trading volume of 21,163,280 shares, compared to its average volume of 6,193,550. The stock has a 50 day simple moving average of $43.03 and a 200-day simple moving average of $39.08. The company 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 company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.60.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. Baker Hughes's dividend payout ratio (DPR) is 37.67%.

Analyst Ratings Changes

Several brokerages have issued reports on BKR. Barclays increased their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. TD Cowen reduced their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets increased their target price on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Finally, Piper Sandler started coverage on Baker Hughes in a research report on Thursday, December 19th. They issued an "overweight" rating and a $53.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

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.