Halliburton (NYSE:HAL) PT Lowered to $40.00 at Bank of America

Halliburton (NYSE:HAL) had its price target cut by Bank of America from $41.00 to $40.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the oilfield services company’s stock.

HAL has been the subject of several other reports. StockNews.com lowered shares of Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. TD Cowen lowered their target price on Halliburton from $47.00 to $45.00 and set a buy rating for the company in a report on Monday. Royal Bank of Canada cut their price target on Halliburton from $45.00 to $44.00 and set an outperform rating on the stock in a report on Monday. Evercore ISI dropped their target price on Halliburton from $52.00 to $48.00 and set an outperform rating on the stock in a research report on Monday. Finally, Susquehanna dropped their price objective on shares of Halliburton from $49.00 to $46.00 and set a positive rating on the stock in a report on Monday. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $45.53.

Halliburton Stock Up 3.6 %

Shares of NYSE HAL opened at $34.18 on Monday. The stock has a fifty day moving average price of $34.53 and a 200 day moving average price of $36.05. 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 12-month low of $32.60 and a 12-month high of $43.85. The company has a market cap of $30.26 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.11 and a beta of 1.93.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Halliburton will post 3.2 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, June 5th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Transactions at Halliburton

In related news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The stock was 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 owns 40,185 shares in the company, valued at $1,486,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value 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 $10,481,883.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the sale, the senior vice president now owns 40,185 shares of the company’s stock, valued at $1,486,845. The disclosure for this sale can be found here. Insiders have sold 62,287 shares of company stock worth $2,298,204 in the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several hedge funds and other institutional investors have recently modified their holdings of HAL. Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 19,237,784 shares in the last quarter. Norges Bank acquired a new position in Halliburton in the 4th quarter worth about $400,070,000. Vanguard Group Inc. raised its position in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halliburton by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock valued at $284,822,000 after purchasing an additional 1,568,485 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Halliburton by 116.9% during the first quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after purchasing an additional 1,338,371 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.