Halliburton (NYSE:HAL) Price Target Cut to $48.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its target price lowered by Barclays from $54.00 to $48.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the oilfield services company’s stock.

Several other equities analysts have also issued reports on HAL. Susquehanna dropped their price objective on Halliburton from $49.00 to $46.00 and set a positive rating on the stock in a report on Monday. Citigroup dropped their price objective on Halliburton from $50.00 to $45.00 and set a buy rating on the stock in a report on Friday, June 28th. Royal Bank of Canada dropped their price objective on Halliburton from $45.00 to $44.00 and set an outperform rating on the stock in a report on Monday. Stifel Nicolaus lowered their price target on Halliburton from $47.00 to $46.00 and set a buy rating on the stock in a report on Tuesday, July 16th. Finally, StockNews.com lowered Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $45.53.

Halliburton Stock Down 0.9 %

NYSE:HAL traded down $0.30 during trading hours on Tuesday, hitting $33.19. The company’s stock had a trading volume of 5,456,106 shares, compared to its average volume of 7,493,136. The stock has a market capitalization of $29.38 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.95 and a beta of 1.93. The stock has a fifty day moving average of $34.69 and a 200-day moving average of $36.08. 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 has a 52-week low of $32.60 and a 52-week high of $43.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities analysts forecast that Halliburton will post 3.28 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.05%. Halliburton’s payout ratio is 23.53%.

Insider Activity

In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $369,200.00. Following the completion of the sale, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Jill D. Sharp sold 3,346 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of 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 available at the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total transaction of $369,200.00. Following the completion of the sale, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at $10,481,883.36. The disclosure for this sale can be found here. In the last three months, insiders sold 62,287 shares of company stock worth $2,298,204. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

Several institutional investors have recently made changes to their positions in HAL. Price T Rowe Associates Inc. MD grew its stake in shares of Halliburton by 46.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after buying an additional 19,237,784 shares during the period. Norges Bank acquired a new position in Halliburton in the 4th quarter worth $400,070,000. Vanguard Group Inc. lifted its holdings in 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 buying an additional 2,618,740 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Halliburton by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after buying an additional 1,568,485 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Halliburton by 116.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after buying an additional 1,338,371 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Halliburton

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.