Baker Hughes Company (NASDAQ:BKR) Shareholders to Collect $0.23 Quarterly Dividend

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.23 per share on Friday, November 20th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, November 10th.

Baker Hughes has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 4 years. Baker Hughes has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.95 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 31.2%.

Baker Hughes Stock Performance

BKR stock opened at $59.00 on Wednesday. The company’s 50-day simple moving average is $58.68 and its 200 day simple moving average is $59.97. Baker Hughes has a 52 week low of $44.26 and a 52 week high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Baker Hughes’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts anticipate that Baker Hughes will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BKR. Citigroup decreased their target price on shares of Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. UBS Group cut their price target on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Royal Bank Of Canada increased their price target on Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, TD Cowen lowered their price objective on Baker Hughes from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $72.10.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.