Halliburton (NYSE:HAL) Announces Quarterly Dividend of $0.17

Halliburton (NYSE:HAL) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Wednesday, March 5th will be given a dividend of 0.17 per share by the oilfield services company on Wednesday, March 26th. This represents a $0.68 dividend on an annualized basis and a yield of 2.62%.

Halliburton has raised its dividend payment by an average of 55.7% annually over the last three years. Halliburton has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Halliburton to earn $2.98 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 22.8%.

Halliburton Stock Down 1.9 %

Shares of NYSE HAL traded down $0.51 during midday trading on Wednesday, hitting $25.98. 7,305,752 shares of the stock traded hands, compared to its average volume of 11,067,494. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. Halliburton has a one year low of $25.16 and a one year high of $41.56. The business has a 50 day moving average price of $27.52 and a two-hundred day moving average price of $29.24. The company has a market cap of $22.82 billion, a PE ratio of 9.18, a P/E/G ratio of 3.53 and a beta of 1.89.

Analyst Ratings Changes

Several research analysts have weighed in on HAL shares. Barclays lowered their price objective on shares of Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group cut their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Piper Sandler started coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research report on Thursday, January 23rd. Finally, Morgan Stanley lowered their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Insider Transactions at Halliburton

In related news, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.