Halliburton (NYSE:HAL) PT Lowered to $45.00 at TD Cowen

Halliburton (NYSE:HAL) had its price target reduced by TD Cowen from $47.00 to $45.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the oilfield services company’s stock.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price target on shares of Halliburton from $47.00 to $46.00 and set a buy rating for the company in a report on Tuesday, July 16th. Morgan Stanley lifted their price target on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday, April 23rd. Piper Sandler lowered their price target on shares of Halliburton from $49.00 to $46.00 and set an overweight rating for the company in a report on Monday, July 15th. Susquehanna reiterated a positive rating and set a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of Moderate Buy and an average target price of $45.53.

Halliburton Stock Performance

Shares of HAL opened at $34.18 on Monday. 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 stock has a market cap of $30.26 billion, a P/E ratio of 11.83, a PEG ratio of 1.11 and a beta of 1.93. The company has a 50-day moving average of $34.53 and a two-hundred day moving average of $36.05. Halliburton has a 12-month low of $32.60 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 net margin of 11.61% and a return on equity of 29.97%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, research analysts predict that Halliburton will post 3.22 EPS for the current fiscal year.

Halliburton Announces Dividend

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

Insiders Place Their Bets

In other Halliburton news, insider Jeffrey Shannon Slocum sold 38,941 shares of the business’s 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 $1,437,701.72. Following the completion of the sale, the insider now directly owns 130,783 shares in the company, valued at $4,828,508.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jeffrey Shannon Slocum sold 38,941 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the transaction, the insider now directly owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The transaction 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 the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 283,908 shares in the company, valued at $10,481,883.36. The disclosure for this sale can be found here. Insiders sold a total of 62,287 shares of company stock worth $2,298,204 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital World Investors raised its holdings in Halliburton by 0.3% in the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after acquiring an additional 377,500 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,618,740 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Halliburton by 46.0% in the first 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 acquiring an additional 19,237,784 shares in the last quarter. Sanders Capital LLC raised its holdings in Halliburton by 3.4% in the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after acquiring an additional 782,093 shares in the last quarter. Finally, Norges Bank acquired a new stake in Halliburton in the fourth quarter valued at $400,070,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.