Halliburton (NYSE:HAL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Halliburton (NYSE:HAL) have received an average recommendation of “Buy” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $44.88.

Several equities analysts recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Halliburton from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Piper Sandler cut their target price on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. The Goldman Sachs Group reduced their price target on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Barclays cut their price objective on shares of Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd.

Halliburton Stock Down 4.0 %

Shares of HAL stock opened at $29.85 on Friday. The firm’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $35.42. Halliburton has a 1 year low of $29.78 and a 1 year high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $26.35 billion, a P/E ratio of 10.33, a PEG ratio of 1.06 and a beta of 1.93.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities analysts predict that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after purchasing an additional 19,237,784 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after buying an additional 13,552,927 shares during the last quarter. Norges Bank bought a new stake in shares of Halliburton during the fourth quarter worth about $400,070,000. LSV Asset Management increased its position in shares of Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after acquiring an additional 2,720,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Halliburton by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after acquiring an additional 2,618,740 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.