Baker Hughes (NASDAQ:BKR – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Investors of record on Monday, November 4th will be paid a dividend of 0.21 per share on Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, November 4th.
Baker Hughes has increased its dividend payment by an average of 2.7% annually over the last three years. Baker Hughes has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Baker Hughes to earn $2.67 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 31.5%.
Baker Hughes Trading Up 2.8 %
Shares of Baker Hughes stock opened at $37.00 on Thursday. The stock has a market capitalization of $36.93 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $35.61 and a 200 day simple moving average of $34.35. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.
Insider Buying and Selling
In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
BKR has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Citigroup lowered their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.59.
Get Our Latest Research Report on Baker Hughes
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.
Featured Stories
- Five stocks we like better than Baker Hughes
- 3 Fintech Stocks With Good 2021 Prospects
- WD-40 Company Gears Up for a Double-Digit Stock Advance
- The Risks of Owning Bonds
- Monster and Celsius Energized: Which Stock Offers More Upside?
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Sherwin-Williams Plunges Into Buying Opportunity: Time to Buy?
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.