Halliburton (NYSE:HAL) Sets New 1-Year High After Dividend Announcement

Halliburton Company (NYSE:HAL)’s share price hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $35.61 and last traded at $35.1830, with a volume of 1558238 shares trading hands. The stock had previously closed at $34.77.

The newly announced dividend which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s payout ratio is currently 45.03%.

Analyst Ratings Changes

HAL has been the subject of several analyst reports. Barclays increased their price target on shares of Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Susquehanna upped their price objective on shares of Halliburton from $36.00 to $40.00 and gave the company a “positive” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their target price on shares of Halliburton from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a $39.00 price target on shares of Halliburton in a report on Friday, February 6th. Finally, TD Cowen upped their price target on Halliburton from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $35.19.

Halliburton Stock Down 0.7%

The firm has a market capitalization of $29.43 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.11 and a beta of 0.77. The company has a fifty day simple moving average of $31.83 and a 200 day simple moving average of $26.98. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Insider Activity at Halliburton

In other news, Director Margaret Katherine Banks sold 2,600 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total value of $88,842.00. Following the transaction, the director directly owned 14,043 shares in the company, valued at $479,849.31. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Van H. Beckwith sold 54,348 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the sale, the executive vice president owned 344,535 shares of the company’s stock, valued at $12,044,943.60. This trade represents a 13.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 337,002 shares of company stock worth $11,445,938. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in Halliburton during the third quarter valued at $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton during the 4th quarter valued at about $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton during the third quarter valued at about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Halliburton in the second quarter worth about $25,000. Finally, Zions Bancorporation National Association UT increased its holdings in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.