Fintel reports that on June 13, 2023, Goldman Sachs maintained coverage of Halliburton (NYSE:HAL) with a Buy recommendation.
Analyst Price Forecast Suggests 54.30% Upside
As of June 1, 2023, the average one-year price target for Halliburton is 48.96. The forecasts range from a low of 34.34 to a high of $60.90. The average price target represents an increase of 54.30% from its latest reported closing price of 31.73.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Halliburton is 23,834MM, an increase of 9.88%. 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 will receive the payment on June 28, 2023. Previously, the company paid $0.16 per share.
At the current share price of $31.73 / share, the stock’s dividend yield is 2.02%.
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=236).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.29. 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 1778 funds or institutions reporting positions in Halliburton. This is an increase of 13 owner(s) or 0.74% in the last quarter. Average portfolio weight of all funds dedicated to HAL is 0.33%, a decrease of 6.71%. Total shares owned by institutions increased in the last three months by 0.74% to 895,399K shares. The put/call ratio of HAL is 1.22, 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.
Key filings for this company:
This article originally appeared on Fintel
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