Baker Hughes (BKR) To Go Ex-Dividend on August 8th

Baker Hughes (NYSE:BKR – Get Rating) announced a quarterly dividend on Friday, July 29th, RTT News reports. Investors of record on Tuesday, August 9th will be given a dividend of 0.18 per share on Friday, August 19th. This represents a $0.72 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, August 8th.

Baker Hughes Trading Up 1.5 %

Baker Hughes stock opened at $24.06 on Friday. The stock has a market cap of $24.51 billion, a PE ratio of -55.95 and a beta of 1.42. The stock has a 50-day moving average price of $29.53 and a 200 day moving average price of $31.55. Baker Hughes has a 52 week low of $19.84 and a 52 week high of $39.78. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44.

Baker Hughes (NYSE:BKR – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The company had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Equities research analysts predict that Baker Hughes will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on BKR. Royal Bank of Canada lowered their price target on Baker Hughes from $41.00 to $36.00 in a report on Thursday, July 21st. Stephens reduced their price objective on Baker Hughes from $40.00 to $32.00 in a research note on Thursday, July 21st. Barclays reduced their price target on Baker Hughes from $46.00 to $44.00 in a research report on Thursday, July 21st. Seaport Res Ptn reissued a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 21st. Finally, Morgan Stanley reduced their price target on Baker Hughes from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.86.

Insider Transactions at Baker Hughes

In other Baker Hughes news, Director Michael R. Dumais purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was bought at an average price of $24.39 per share, with a total value of $243,900.00. Following the completion of the purchase, the director now owns 24,977 shares in the company, valued at approximately $609,189.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Lorenzo Simonelli sold 103,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $37.39, for a total value of $3,851,170.00. Following the completion of the sale, the chief executive officer now owns 472,759 shares in the company, valued at $17,676,459.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael R. Dumais acquired 10,000 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was purchased at an average price of $24.39 per share, with a total value of $243,900.00. Following the acquisition, the director now owns 24,977 shares of the company’s stock, valued at $609,189.03. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of Baker Hughes by 104.7% during the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Baker Hughes by 509.6% during the first quarter. Federated Hermes Inc. now owns 2,908 shares of the company’s stock valued at $106,000 after purchasing an additional 2,431 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Baker Hughes by 3,802.6% during the first quarter. Brown Brothers Harriman & Co. now owns 4,449 shares of the company’s stock valued at $162,000 after purchasing an additional 4,335 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Baker Hughes during the first quarter valued at $164,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Baker Hughes during the first quarter valued at $211,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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 four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment 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.