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

Halliburton (NYSE:HAL) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders 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 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 by an average of 26.7% annually over the last three years. Halliburton has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of HAL stock traded up $0.03 during trading hours on Tuesday, reaching $30.48. The stock had a trading volume of 6,730,147 shares, compared to its average volume of 8,082,332. The stock’s fifty day simple moving average is $29.18 and its 200 day simple moving average is $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 has a 12 month low of $27.26 and a 12 month high of $41.56. The firm has a market capitalization of $26.78 billion, a PE ratio of 10.61, a PEG ratio of 3.64 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced 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 the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that Halliburton will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays decreased their target price on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group decreased their target price on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Morgan Stanley reduced their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Dbs Bank assumed coverage on shares of Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. Four investment 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 stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average 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.