Baker Hughes (NASDAQ:BKR – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Monday, May 6th will be paid a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.55%.
Baker Hughes has increased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Baker Hughes has a payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.62 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 32.1%.
Baker Hughes Price Performance
NASDAQ:BKR traded up $0.54 during midday trading on Tuesday, hitting $33.00. 7,383,178 shares of the stock were exchanged, compared to its average volume of 8,736,161. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 0.62 and a beta of 1.42. The business has a 50-day moving average price of $31.74 and a two-hundred day moving average price of $32.56. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.
Insider Activity
In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. UBS Group upped their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.
Check Out Our Latest Stock Report on BKR
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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