Halliburton (NYSE:HAL) to Issue Dividend Increase – $0.16 Per Share

Halliburton (NYSE:HALGet Rating) declared a quarterly dividend on Tuesday, January 24th, Zacks reports. Investors of record on Wednesday, March 1st will be paid a dividend of 0.16 per share by the oilfield services company on Wednesday, March 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, February 28th. This is a boost from Halliburton’s previous quarterly dividend of $0.12.

Halliburton has decreased its dividend by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 1 years. Halliburton has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Halliburton to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 15.9%.

Halliburton Stock Down 0.3 %

HAL stock opened at $39.72 on Wednesday. The stock has a market capitalization of $36.07 billion, a P/E ratio of 20.60, a PEG ratio of 0.31 and a beta of 2.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.10. Halliburton has a one year low of $23.30 and a one year high of $43.99. The company has a 50 day moving average price of $38.23 and a two-hundred day moving average price of $33.14.

Halliburton (NYSE:HALGet Rating) last released its earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.67 by $0.05. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Halliburton had a net margin of 9.16% and a return on equity of 22.69%. Halliburton’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. As a group, sell-side analysts expect that Halliburton will post 2.11 EPS for the current year.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 6,513 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $37.50, for a total value of $244,237.50. Following the transaction, the chief financial officer now owns 119,691 shares in the company, valued at approximately $4,488,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Eric Carre sold 6,513 shares of Halliburton stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $37.50, for a total value of $244,237.50. Following the completion of the transaction, the chief financial officer now directly owns 119,691 shares in the company, valued at $4,488,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 4,295 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $42.60, for a total value of $182,967.00. Following the completion of the sale, the executive vice president now directly owns 245,731 shares of the company’s stock, valued at $10,468,140.60. The disclosure for this sale can be found here. Insiders have sold 59,153 shares of company stock worth $2,305,715 in the last quarter. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

Hedge funds have recently added to or reduced their stakes in the business. Toroso Investments LLC grew its stake in Halliburton by 3.3% in the 3rd quarter. Toroso Investments LLC now owns 10,443 shares of the oilfield services company’s stock valued at $257,000 after buying an additional 334 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Halliburton by 72.7% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,789 shares of the oilfield services company’s stock worth $67,000 after purchasing an additional 753 shares during the last quarter. Employees Retirement System of Texas grew its position in Halliburton by 0.5% in the 1st quarter. Employees Retirement System of Texas now owns 202,000 shares of the oilfield services company’s stock worth $7,650,000 after purchasing an additional 1,000 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Halliburton by 81.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company’s stock worth $89,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Colony Group LLC grew its position in Halliburton by 13.6% in the 3rd quarter. Colony Group LLC now owns 9,133 shares of the oilfield services company’s stock worth $225,000 after purchasing an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HAL. Jefferies Financial Group began coverage on shares of Halliburton in a research note on Wednesday, October 19th. They issued a “buy” rating and a $40.00 target price for the company. Wolfe Research raised shares of Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research note on Thursday, January 12th. ATB Capital boosted their price objective on shares of Halliburton to $49.00 in a research note on Thursday, October 27th. TheStreet raised shares of Halliburton from a “c” rating to a “b” rating in a research note on Tuesday, October 25th. Finally, StockNews.com started coverage on shares of Halliburton in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.28.

Halliburton Company Profile

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.

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Dividend History for Halliburton (NYSE:HAL)

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