Halliburton Company (NYSE:HAL) declared a quarterly dividend on Friday, July 14th, RTT News reports. Stockholders of record on Wednesday, September 6th will be paid a dividend of 0.18 per share by the oilfield services company on Wednesday, September 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, September 1st.
Halliburton has raised its dividend by an average of 11.1% annually over the last three years. Halliburton has a dividend payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Halliburton to earn $2.20 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 32.7%.
Shares of Halliburton (NYSE:HAL) traded down 1.21% during trading on Friday, hitting $40.02. The stock had a trading volume of 5,436,673 shares. The company’s market capitalization is $34.88 billion. The company’s 50 day moving average price is $42.69 and its 200 day moving average price is $47.89. Halliburton has a 52 week low of $40.00 and a 52 week high of $58.78.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Halliburton’s revenue for the quarter was up 29.3% on a year-over-year basis. Analysts predict that Halliburton will post $1.12 earnings per share for the current year.
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A number of brokerages have issued reports on HAL. UBS AG reissued a “buy” rating and set a $70.00 target price on shares of Halliburton in a report on Monday, May 15th. BidaskClub cut shares of Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, July 1st. Finally, FBR & Co lowered their target price on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.60.
In other news, Director William E. Albrecht bought 8,000 shares of Halliburton stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $46.33 per share, with a total value of $370,640.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $370,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.
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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