Halliburton (NYSE:HAL) Given New $40.00 Price Target at Piper Sandler

Halliburton (NYSE:HAL) had its target price reduced by equities research analysts at Piper Sandler from $46.00 to $40.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. Piper Sandler’s target price would suggest a potential upside of 19.44% from the stock’s previous close.

Several other analysts have also recently commented on the company. Wells Fargo & Company lowered their price target on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Jefferies Financial Group lifted their price target on Halliburton from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Citigroup decreased their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

Halliburton Trading Up 0.3 %

Shares of HAL stock opened at $33.49 on Monday. The firm has a 50-day moving average price of $34.69 and a 200 day moving average price of $36.08. Halliburton has a twelve month low of $32.60 and a twelve month high of $43.85. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.95 and a beta of 1.93. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Research analysts forecast that Halliburton will post 3.28 earnings per share for the current fiscal year.

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 that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Halliburton news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total value of $123,802.00. Following the transaction, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at $10,066,119. The disclosure for this sale can be found here. Insiders have sold a total of 62,287 shares of company stock valued at $2,298,204 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently made changes to their positions in HAL. Premier Path Wealth Partners LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at approximately $237,000. CVA Family Office LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at approximately $58,000. Pacer Advisors Inc. raised its position in shares of Halliburton by 3.5% during the 4th quarter. Pacer Advisors Inc. now owns 59,266 shares of the oilfield services company’s stock valued at $2,142,000 after acquiring an additional 2,010 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at approximately $378,000. Finally, Invera Wealth Advisors LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at approximately $1,066,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.