Baker Hughes Company (NASDAQ:BKR) Plans $0.23 Quarterly Dividend

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Tuesday, May 5th will be given a dividend of 0.23 per share on Friday, May 15th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, May 5th.

Baker Hughes has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Baker Hughes has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Baker Hughes to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 31.7%.

Baker Hughes Stock Performance

NASDAQ BKR opened at $64.49 on Friday. The company has a 50-day simple moving average of $61.18 and a two-hundred day simple moving average of $53.56. Baker Hughes has a 12-month low of $34.56 and a 12-month high of $67.00. The firm has a market cap of $63.73 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.12 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities analysts forecast that Baker Hughes will post 2.4 EPS for the current year.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares in the company, valued at $672,140.04. The trade was a 14.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 590,251 shares of company stock valued at $35,311,023 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Activest Wealth Management boosted its position in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the last quarter. EFG International AG purchased a new stake in shares of Baker Hughes during the 4th quarter valued at about $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the period. Quarry LP purchased a new position in shares of Baker Hughes in the fourth quarter worth approximately $31,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after buying an additional 337 shares during the period. 92.06% of the stock is owned by institutional investors.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.