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

Key Points

• Halliburton declared a quarterly dividend of $0.17 per share, payable September 23 to shareholders of record September 2. The dividend represents an annualized $0.68 per share and a 1.9% yield.
• The dividend appears well covered, with a 25.6% payout ratio and an expected future payout ratio of 23.3%; Halliburton has raised its dividend for four consecutive years.
• Halliburton recently beat quarterly expectations with $0.55 in adjusted EPS and $5.71 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.10, above the reported share price of $36.19.

Halliburton Company (NYSE:HAL - Get Free Report) announced a quarterly dividend on Saturday, August 22nd. Shareholders of record on Wednesday, September 2nd will be given a dividend of 0.17 per share by the oilfield services company on Wednesday, September 23rd. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 2nd.

Halliburton has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 4 years. Halliburton has a payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Halliburton to earn $2.92 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 23.3%.

Halliburton Price Performance

Shares of NYSE HAL opened at $36.19 on Monday. Halliburton has a twelve month low of $21.40 and a twelve month high of $43.59. The stock's 50 day moving average price is $33.82 and its 200-day moving average price is $36.55. The company has a market capitalization of $30.15 billion, a PE ratio of 18.95, a PEG ratio of 2.27 and a beta of 0.73. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.Halliburton's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. On average, equities analysts anticipate that Halliburton will post 2.34 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on HAL. Wolfe Research began coverage on Halliburton in a report on Wednesday, July 8th. They issued a "peer perform" rating for the company. Piper Sandler raised Halliburton from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. TD Cowen cut their target price on Halliburton from $48.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Barclays reduced their target price on Halliburton from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Finally, BMO Capital Markets set a $37.00 price target on shares of Halliburton in a report on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Halliburton has an average rating of "Moderate Buy" and a consensus target price of $43.10.

About Halliburton

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.

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