Fintel reports that on October 3, 2023, Wells Fargo maintained coverage of Halliburton (NYSE:HAL) with a Overweight recommendation.
Analyst Price Forecast Suggests 20.64% Upside
As of August 31, 2023, the average one-year price target for Halliburton is 47.98. The forecasts range from a low of 32.32 to a high of $56.70. The average price target represents an increase of 20.64% from its latest reported closing price of 39.77.
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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 August 21, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of September 6, 2023 received the payment on September 27, 2023. Previously, the company paid $0.16 per share.
At the current share price of $39.77 / share, the stock's dividend yield is 1.61%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.13%, 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 0.28 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 1694 funds or institutions reporting positions in Halliburton. This is a decrease of 37 owner(s) or 2.14% in the last quarter. Average portfolio weight of all funds dedicated to HAL is 0.25%, a decrease of 8.93%. Total shares owned by institutions increased in the last three months by 0.45% to 913,738K shares. 
The put/call ratio of HAL is 1.25, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 114,408K shares representing 12.73% ownership of the company. In it's prior filing, the firm reported owning 77,767K shares, representing an increase of 32.03%. The firm increased its portfolio allocation in HAL by 42.74% over the last quarter.
ABALX - AMERICAN BALANCED FUND holds 36,560K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 29,136K shares, representing an increase of 20.31%. The firm increased its portfolio allocation in HAL by 27.07% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 30,400K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 16,652K shares, representing an increase of 45.22%. The firm increased its portfolio allocation in HAL by 104.52% over the last quarter.
Boston Partners holds 25,749K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 24,628K shares, representing an increase of 4.35%. The firm increased its portfolio allocation in HAL by 175.27% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 25,646K shares representing 2.85% ownership of the company. No change in 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.
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This story originally appeared on Fintel.
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