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

Baker Hughes (NASDAQ:BKR – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Shareholders 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 Trading Up 2.8 %

NASDAQ:BKR traded up $0.85 on Wednesday, reaching $31.00. 5,920,878 shares of the company’s stock were exchanged, 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 capitalization of $31.26 billion, a price-to-earnings ratio of -65.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.48. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $29.37 and a 200-day moving average of $26.75.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Baker Hughes had a positive return on equity of 5.98% and a negative net margin of 2.85%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that Baker Hughes will post 1.67 earnings per share for the current year.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Rami Qasem sold 72,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the transaction, the executive vice president now owns 32,523 shares in the company, valued at $1,015,042.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Baker Hughes news, EVP Neil Saunders sold 118,492 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total value of $3,630,594.88. Following the completion of the transaction, the executive vice president now owns 54,417 shares in the company, valued at $1,667,336.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rami Qasem sold 72,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares in the company, valued at approximately $1,015,042.83. The disclosure for this sale can be found here. Insiders sold 285,303 shares of company stock worth $8,816,980 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Baker Hughes by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,413,117 shares of the company’s stock valued at $197,092,000 after purchasing an additional 328,823 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Baker Hughes by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after purchasing an additional 204,220 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Baker Hughes by 31.6% in the second 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. Eaton Vance Management boosted its stake in shares of Baker Hughes by 32.2% during the first quarter. Eaton Vance Management now owns 2,921,924 shares of the company’s stock valued at $106,387,000 after acquiring an additional 712,334 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of Baker Hughes during the first quarter valued at $69,329,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Susquehanna boosted their price objective on Baker Hughes from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Tuesday. Morgan Stanley upped their price target on Baker Hughes from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, January 4th. Wells Fargo & Company downgraded Baker Hughes from an “overweight” rating to an “equal weight” rating and lowered their price target 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 upped their price target on Baker Hughes from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 20th. Finally, Jefferies Financial Group started coverage on Baker Hughes in a report on Wednesday, October 19th. They issued a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to 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.