Halliburton Announces Quarterly Dividend of $0.17 (NYSE:HAL)

Halliburton (NYSE:HAL) declared a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.17 per share by the oilfield services company on Thursday, December 26th. This represents a $0.68 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, December 4th.

Halliburton has increased its dividend by an average of 26.7% annually over the last three years. Halliburton has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Halliburton to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 21.5%.

Halliburton Stock Up 0.1 %

Shares of HAL stock traded up $0.02 during mid-day trading on Tuesday, hitting $30.47. The stock had a trading volume of 9,372,300 shares, compared to its average volume of 8,093,597. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The firm’s 50-day moving average is $29.18 and its two-hundred day moving average is $32.12. The firm has a market capitalization of $26.77 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 3.64 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. On average, analysts predict that Halliburton will post 3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on HAL shares. Piper Sandler lowered their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Susquehanna dropped their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Bank of America decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Dbs Bank started coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Raymond James cut their target price on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.74.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.