Baker Hughes (NASDAQ:BKR) to Issue Quarterly Dividend of $0.19

Baker Hughes (NASDAQ:BKRGet Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Investors of record on Monday, February 6th will be paid a dividend of 0.19 per share on Friday, February 17th. This represents a $0.76 dividend on an annualized basis and a yield of 2.45%.

Baker Hughes Stock Up 2.8 %

NASDAQ BKR traded up $0.85 during trading hours on Wednesday, reaching $31.00. 5,920,878 shares of the company’s stock traded hands, compared to its average volume of 6,682,955. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The firm has a market cap of $31.26 billion, a PE ratio of -65.54, a PEG ratio of 0.43 and a beta of 1.48. The firm has a 50-day simple moving average of $29.37 and a 200 day simple moving average of $26.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 1.08.

Baker Hughes (NASDAQ:BKRGet Rating) last issued its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Baker Hughes had a positive return on equity of 5.98% and a negative net margin of 2.85%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 1.67 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 9,811 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total value of $284,715.22. Following the transaction, the executive vice president now directly owns 74,474 shares in the company, valued at $2,161,235.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total transaction of $284,715.22. Following the transaction, the executive vice president now directly owns 74,474 shares in the company, valued at approximately $2,161,235.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory D. Brenneman sold 85,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the transaction, the director now owns 16,842 shares in the company, valued at $525,975.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,303 shares of company stock worth $8,816,980. Insiders own 0.34% of the company’s stock.

Institutional Trading of Baker Hughes

A number of institutional investors have recently modified their holdings of BKR. Clearbridge Investments LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $69,329,000. PointState Capital LP purchased a new position in shares of Baker Hughes in the 1st quarter valued at approximately $56,554,000. First Trust Advisors LP raised its position in shares of Baker Hughes by 132.9% in the 1st quarter. First Trust Advisors LP now owns 1,867,397 shares of the company’s stock valued at $67,992,000 after purchasing an additional 1,065,752 shares during the last quarter. Eaton Vance Management raised its position in shares of Baker Hughes by 32.2% in the 1st quarter. Eaton Vance Management now owns 2,921,924 shares of the company’s stock valued at $106,387,000 after purchasing an additional 712,334 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Baker Hughes by 31.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,963,591 shares of the company’s stock valued at $85,559,000 after purchasing an additional 711,068 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BKR has been the subject of several research reports. Wells Fargo & Company cut shares of Baker Hughes from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $32.00 to $29.00 in a report on Wednesday, October 26th. They noted that the move was a valuation call. Bank of America boosted their price objective on shares of Baker Hughes from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 20th. Benchmark initiated coverage on shares of Baker Hughes in a research report on Thursday, January 19th. They set a “buy” rating and a $36.00 target price for the company. ATB Capital cut their target price on shares of Baker Hughes to $37.00 in a research report on Thursday, October 20th. Finally, Jefferies Financial Group initiated coverage on shares of Baker Hughes in a research report on Wednesday, October 19th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $35.86.

About Baker Hughes

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Dividend History for Baker Hughes (NASDAQ:BKR)

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