Baker Hughes (NASDAQ:BKR – Get Free Report) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Tuesday, February 11th will be paid a dividend of 0.23 per share on Friday, February 21st. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21.
Baker Hughes has raised its dividend by an average of 5.3% annually over the last three years. Baker Hughes has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.56 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 32.8%.
Baker Hughes Stock Up 3.6 %
Shares of BKR stock traded up $1.53 during trading hours on Thursday, reaching $44.60. 11,013,352 shares of the stock were exchanged, compared to its average volume of 7,087,644. The business’s fifty day moving average is $43.00 and its two-hundred day moving average is $38.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.47. The firm has a market capitalization of $44.13 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.88 and a beta of 1.39.
Insider Activity
In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on BKR shares. Piper Sandler began coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price on the stock. Bank of America increased their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.06.
Get Our Latest Stock Analysis on BKR
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.
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