Halliburton Company (HAL) Announces Quarterly Dividend of $0.18
Halliburton Company (NYSE:HAL) announced a quarterly dividend on Friday, November 3rd, RTT News reports. Investors of record on Thursday, December 7th will be given a dividend of 0.18 per share by the oilfield services company on Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of Infinity.
Halliburton has increased its dividend by an average of 11.1% annually over the last three years. Halliburton has a payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Halliburton to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.1%.
The stock has a market cap of $37.25 billion, a PE ratio of 58.48 and a beta of 1.05.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. research analysts forecast that Halliburton will post 1.16 earnings per share for the current year.
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In other Halliburton news, Chairman David J. Lesar sold 50,000 shares of Halliburton stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the sale, the chairman now directly owns 490,143 shares of the company’s stock, valued at $21,419,249.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Halliburton in a research report on Thursday, July 20th. Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $50.00 in a research report on Thursday, July 20th. Citigroup Inc. raised their target price on shares of Halliburton from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $57.55.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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