Halliburton Company (NYSE:HAL) Plans Quarterly Dividend of $0.17

Halliburton Company (NYSE:HAL) announced a quarterly dividend on Saturday, August 22nd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.17 per share by the oilfield services company on Wednesday, September 23rd. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, September 2nd.

Halliburton has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Halliburton has a payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Halliburton to earn $2.92 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 23.3%.

Halliburton Stock Up 0.0%

Halliburton stock opened at $36.19 on Monday. The firm has a market cap of $30.15 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.27 and a beta of 0.73. The stock has a fifty day simple moving average of $33.82 and a two-hundred day simple moving average of $36.55. Halliburton has a 12 month low of $21.40 and a 12 month high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities analysts predict that Halliburton will post 2.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Halliburton in the second quarter worth $2,812,327,000. California State Teachers Retirement System lifted its position in Halliburton by 2,886.3% during the second quarter. California State Teachers Retirement System now owns 82,808,973 shares of the oilfield services company’s stock valued at $2,811,365,000 after purchasing an additional 80,036,032 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Halliburton in the 2nd quarter worth about $345,941,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Company Profile

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.