Baker Hughes (BKR) To Go Ex-Dividend on May 3rd

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Shareholders 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 2.58%. The ex-dividend date of this dividend is Friday, May 3rd.

Baker Hughes has raised its dividend by an average of 2.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Baker Hughes has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.61 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 32.2%.

Baker Hughes Stock Down 1.8 %

Shares of BKR stock opened at $32.62 on Wednesday. The stock has a market cap of $32.65 billion, a P/E ratio of 18.22, a PEG ratio of 0.63 and a beta of 1.42. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $32.20 and its two-hundred day simple moving average is $32.48.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts predict that Baker Hughes will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented 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 increased their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Citigroup decreased their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Barclays decreased their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Finally, Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, 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 can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, 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 can be accessed through this link. Also, SVP James E. Apostolides sold 10,000 shares of the business’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 directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate 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.