Halliburton (NYSE:HAL) to Issue Quarterly Dividend of $0.12

Halliburton (NYSE:HAL – Get Rating) declared a quarterly dividend on Thursday, May 19th, RTT News reports. Shareholders of record on Wednesday, June 1st will be paid a dividend of 0.12 per share by the oilfield services company on Wednesday, June 22nd. This represents a $0.48 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, May 31st.

Halliburton has decreased its dividend payment by an average of 37.0% annually over the last three years and has increased its dividend every year for the last 1 years. Halliburton has a dividend payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Halliburton to earn $2.73 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 17.6%.

NYSE HAL opened at $41.36 on Friday. The firm’s fifty day moving average price is $37.76 and its two-hundred day moving average price is $31.41. The stock has a market cap of $37.31 billion, a PE ratio of 23.91 and a beta of 2.29. Halliburton has a fifty-two week low of $17.82 and a fifty-two week high of $42.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.61 and a current ratio of 2.19.

Halliburton (NYSE:HAL – Get Rating) last posted its earnings results on Tuesday, April 19th. The oilfield services company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Halliburton had a net margin of 9.61% and a return on equity of 17.83%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts predict that Halliburton will post 1.91 earnings per share for the current fiscal year.

In other news, CFO Lance Loeffler sold 27,912 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $42.00, for a total transaction of $1,172,304.00. Following the transaction, the chief financial officer now owns 135,681 shares in the company, valued at $5,698,602. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Charles Jr. Geer sold 3,500 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $35.00, for a total transaction of $122,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 261,353 shares of company stock worth $10,257,930. 0.57% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HAL. Bridgefront Capital LLC acquired a new stake in shares of Halliburton in the 1st quarter worth about $277,000. Golden State Wealth Management LLC acquired a new stake in shares of Halliburton in the 1st quarter worth about $276,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Halliburton in the 1st quarter worth about $274,000. EP Wealth Advisors LLC acquired a new stake in shares of Halliburton in the 1st quarter worth about $250,000. Finally, Mather Group LLC. acquired a new stake in shares of Halliburton in the 1st quarter worth about $244,000. Hedge funds and other institutional investors own 79.17% of the company’s stock.

A number of research firms have weighed in on HAL. Susquehanna Bancshares boosted their target price on shares of Halliburton from $45.00 to $48.00 in a research note on Wednesday, April 20th. StockNews.com cut shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Citigroup boosted their price objective on shares of Halliburton from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Bank of America boosted their price objective on shares of Halliburton from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Finally, Morgan Stanley boosted their price objective on shares of Halliburton from $32.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $37.93.

Halliburton Company Profile (Get Rating)

Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

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