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

Halliburton (NYSE:HAL) announced a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Wednesday, December 4th will be given 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 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th.

Halliburton has raised its dividend payment by an average of 26.7% per year over the last three years. Halliburton has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Halliburton to earn $3.12 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 21.8%.

Halliburton Trading Down 0.1 %

NYSE HAL opened at $31.86 on Monday. The business has a 50 day simple moving average of $29.72 and a 200 day simple moving average of $31.77. Halliburton has a one year low of $27.26 and a one year high of $41.56. The stock has a market capitalization of $27.99 billion, a P/E ratio of 11.10, a P/E/G ratio of 3.92 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts expect that Halliburton will post 3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HAL shares. Raymond James cut their price target on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Susquehanna cut their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group cut their price target on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Barclays dropped their target price on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Company Profile

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.