Halliburton (NYSE:HAL) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Halliburton (NYSE:HAL) in a research note released on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $36.00 target price on the oilfield services company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $34.00 in a report on Monday, December 9th. Jefferies Financial Group decreased their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $44.00 to $37.00 in a research report on Friday, September 13th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Halliburton in a report on Friday, November 8th. Finally, BMO Capital Markets cut their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.58.

Halliburton Price Performance

HAL stock opened at $25.77 on Thursday. Halliburton has a 1 year low of $25.66 and a 1 year high of $41.56. The stock has a market capitalization of $22.64 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 3.61 and a beta of 1.90. The company’s 50-day moving average is $29.45 and its 200-day moving average is $31.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts expect that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of Halliburton by 3.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 22,629 shares of the oilfield services company’s stock valued at $764,000 after purchasing an additional 675 shares during the last quarter. &PARTNERS raised its stake in shares of Halliburton by 17.6% in the second quarter. &PARTNERS now owns 15,845 shares of the oilfield services company’s stock valued at $535,000 after acquiring an additional 2,373 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Halliburton by 4.1% in the 2nd quarter. New York State Teachers Retirement System now owns 945,773 shares of the oilfield services company’s stock worth $31,948,000 after acquiring an additional 37,613 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in shares of Halliburton by 22.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 9,286 shares of the oilfield services company’s stock worth $314,000 after purchasing an additional 1,675 shares during the period. Finally, Spirit of America Management Corp NY grew its holdings in Halliburton by 14.6% during the 2nd quarter. Spirit of America Management Corp NY now owns 47,000 shares of the oilfield services company’s stock valued at $1,588,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.