• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 6 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 19 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

Halliburton Hikes Dividend By 33% After Earnings Beat

Halliburton will return to shareholders half of its annual free cash flow after beating Q4 estimates.

Halliburton will raise its dividend by 33%, the company said on Tuesday, as the world’s largest fracking services provider beat analyst estimates for fourth-quarter performance. Halliburton bought back $250 million in shares during Q4 2022, and saw quarterly earnings of $0.72 per share—this compares to $0.36 per share in Q4 a year ago.

HAL’s Q4 revenues came in at $5.58 billion, also beating analyst estimates and Q4 2021’s revenues of $4.28 billion. HAL’s Q4 profit was $656 million.

For all of 2022, Halliburton’s profit came in at $1.57 billion, or $1.73 per share.

While a boon to shareholders, the buybacks and dividend hikes in the U.S. oil and gas industry over the last year has drawn criticism from the White House, which in October chastised oil companies for returning record profits to shareholders through more buybacks and higher dividends.

“My message to the American energy companies is this: You should not be using your profits to buy back stock or for dividends,” President Joe Biden said in October of last year.

But energy companies have been loathed to increase capital spending as of late, preferring instead to reward shareholders and paying down debt.

“I am pleased to announce that our Board has adopted a capital returns framework and an increase in our dividend to sixteen cents ($0.16) per share beginning this quarter. This capital returns framework, our dividend increase, and the share buy backs we made during the fourth quarter demonstrate Halliburton’s confidence in our business, customers, employees, and value proposition,” Jeff Miller, Halliburton Chairman, President and CEO said in a Tuesday statement.

ADVERTISEMENT

By Julianne Geiger

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News