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

Baker Hughes (NASDAQ:BKR) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Monday, May 6th will be given a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd.

Baker Hughes has raised its dividend by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Baker Hughes has a dividend payout ratio of 32.7% indicating that 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 Trading Down 1.0 %

Baker Hughes stock opened at $32.67 on Thursday. The company has a 50 day moving average price of $31.89 and a 200 day moving average price of $32.55. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 0.61 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $0.28 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts forecast that Baker Hughes will post 2.07 EPS for the current year.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s 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 sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The shares were 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 in the company, valued at $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BKR. Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. 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 note 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 note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $40.94.

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.