Baker Hughes (NASDAQ:BKR) Announces Earnings Results

Baker Hughes (NASDAQ:BKR) released its earnings results on Thursday. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07, Zacks reports. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%.

Baker Hughes Stock Up 3.6 %

NASDAQ BKR traded up $1.53 on Thursday, reaching $44.60. The company had a trading volume of 11,026,595 shares, compared to its average volume of 7,099,291. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. The firm has a 50-day moving average of $43.00 and a 200-day moving average of $38.96. The firm has a market capitalization of $44.13 billion, a PE ratio of 20.00, a P/E/G ratio of 0.88 and a beta of 1.39.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Piper Sandler began coverage on Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 price target on the stock. Royal Bank of Canada raised their price objective on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Barclays boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, TD Cowen dropped their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.06.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.