Fintel reports that on July 21, 2023, Morgan Stanley reiterated coverage of Halliburton (NYSE:HAL) with a Overweight recommendation.
Analyst Price Forecast Suggests 30.29% Upside
As of July 6, 2023, the average one-year price target for Halliburton is 48.13. The forecasts range from a low of 34.34 to a high of $60.90. The average price target represents an increase of 30.29% from its latest reported closing price of 36.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Halliburton is 23,834MM, an increase of 6.34%. The projected annual non-GAAP EPS is 2.96.
Halliburton Declares $0.16 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of June 7, 2023 received the payment on June 28, 2023. Previously, the company paid $0.16 per share.
At the current share price of $36.94 / share, the stock's dividend yield is 1.73%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.14%, the lowest has been 0.69%, and the highest has been 13.74%. The standard deviation of yields is 1.87 (n=235).
The current dividend yield is 0.22 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.56%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1768 funds or institutions reporting positions in Halliburton. This is a decrease of 4 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to HAL is 0.28%, a decrease of 26.06%. Total shares owned by institutions increased in the last three months by 1.34% to 908,395K shares. 
The put/call ratio of HAL is 1.14, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 77,767K shares representing 8.62% ownership of the company. In it's prior filing, the firm reported owning 64,199K shares, representing an increase of 17.45%. The firm decreased its portfolio allocation in HAL by 5.56% over the last quarter.
ABALX - AMERICAN BALANCED FUND holds 29,136K shares representing 3.23% ownership of the company. No change in the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 25,983K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 26,284K shares, representing a decrease of 1.16%. The firm decreased its portfolio allocation in HAL by 14.53% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 25,646K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 25,242K shares, representing an increase of 1.58%. The firm decreased its portfolio allocation in HAL by 1.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 25,208K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 24,866K shares, representing an increase of 1.36%. The firm decreased its portfolio allocation in HAL by 24.73% over the last quarter.
Halliburton Background Information
(This description is provided by the company.)
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 70 countries, the company helps its customers maximize value 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 asset.
Additional reading:
- (1) Adjusted net income per diluted share is a non-GAAP financial measure; please see reconciliation of Net Income to Adjusted Net Income in Footnote Table 3. (2) Adjusted operating margin is a non-GAAP financial measure; please see reconciliation of
- Executive Agreement (Shannon Slocum)
- Mine Safety Disclosures
- HALLIBURTON COMPANY Condensed Consolidated Statements of Operations (Millions of dollars and shares except per share data) Three Months Ended March 31 December 31 2023 2022 2022 Revenue: Completion and Production $ 3,409 $ 2,353 $ 3,182 Drilling and
- Form of Restricted Stock Agreement.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
