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

Halliburton Company (NYSE:HAL) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Wednesday, June 3rd will be paid a dividend of 0.17 per share by the oilfield services company on Wednesday, June 24th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 3rd.

Halliburton has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Halliburton has a payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Halliburton to earn $2.89 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 23.5%.

Halliburton Stock Performance

Shares of HAL opened at $42.03 on Friday. Halliburton has a 12 month low of $19.38 and a 12 month high of $43.59. The stock has a fifty day moving average price of $38.88 and a 200-day moving average price of $33.60. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The firm has a market cap of $35.11 billion, a PE ratio of 23.09, a P/E/G ratio of 1.85 and a beta of 0.73.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts predict that Halliburton will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HAL. Royal Bank Of Canada increased their price objective on Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. HSBC lifted their price objective on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Evercore upgraded shares of Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Friday, March 20th. Wall Street Zen cut Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Finally, Susquehanna lifted their price target on Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.