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

Baker Hughes Company (NASDAQ:BKR) declared a quarterly dividend on Thursday, February 5th. Shareholders of record on Tuesday, February 17th will be given a dividend of 0.23 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th.

Baker Hughes has increased its dividend by an average of 0.1%annually 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. Analysts expect Baker Hughes to earn $2.99 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 30.8%.

Baker Hughes Trading Down 3.1%

Shares of BKR stock opened at $57.36 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $56.60 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. Baker Hughes has a 12-month low of $33.60 and a 12-month high of $59.54. The stock’s 50-day moving average price is $49.94 and its 200-day moving average price is $47.60.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The company had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction of $47,494.62. Following the completion of the transaction, the chief accounting officer owned 14,019 shares in the company, valued at $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,851 shares of company stock valued at $1,190,736. 0.27% of the stock is owned by insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management boosted its stake in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Baker Hughes by 104.0% during the 3rd 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 in the last quarter. JFS Wealth Advisors LLC boosted its position in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC boosted its position in Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes in the 2nd quarter worth about $36,000. 92.06% of the stock is currently 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.