Halliburton (NYSE:HAL) Declares $0.17 Quarterly Dividend

Halliburton (NYSE:HAL) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, December 4th.

Halliburton has raised its dividend payment by an average of 26.7% annually over the last three years. Halliburton has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE:HAL traded up $0.03 during trading on Tuesday, reaching $30.48. 6,730,147 shares of the stock were exchanged, compared to its average volume of 8,082,332. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The firm has a market cap of $26.78 billion, a PE ratio of 10.61, a PEG ratio of 3.64 and a beta of 1.89. The stock has a 50-day moving average price of $29.18 and a 200-day moving average price of $32.12. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Research analysts expect that Halliburton will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HAL has been the subject of several research analyst reports. Bank of America lowered their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company lowered their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Piper Sandler lowered their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. TD Cowen reduced their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price 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.