Halliburton (NYSE:HAL) PT Lowered to $42.00 at Susquehanna

Halliburton (NYSE:HAL) had its target price reduced by Susquehanna from $46.00 to $42.00 in a research note published on Friday morning, Benzinga reports. They currently have a positive rating on the oilfield services company’s stock.

Several other research firms have also recently commented on HAL. Bank of America lowered their price target on shares of Halliburton from $41.00 to $40.00 and set a buy rating on the stock in a report on Monday, July 22nd. StockNews.com downgraded Halliburton from a buy rating to a hold rating in a research note on Wednesday, July 3rd. Piper Sandler lowered their price target on Halliburton from $46.00 to $40.00 and set an overweight rating for the company in a research note on Monday, July 22nd. Stifel Nicolaus reduced their target price on shares of Halliburton from $47.00 to $46.00 and set a buy rating for the company in a research note on Tuesday, July 16th. Finally, Benchmark restated a buy rating and set a $42.00 price target on shares of Halliburton in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $41.89.

Halliburton Stock Performance

Shares of Halliburton stock opened at $30.82 on Friday. Halliburton has a 12 month low of $27.52 and a 12 month high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The stock has a market cap of $27.28 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The business has a fifty day simple moving average of $30.17 and a 200-day simple moving average of $34.02.

Halliburton (NYSE:HAL) last posted its quarterly 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. 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 analyst estimates of $5.95 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Halliburton will post 3.13 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, September 4th. Halliburton’s payout ratio is currently 23.53%.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after buying an additional 295 shares in the last quarter. Massachusetts Wealth Management lifted its position in shares of Halliburton by 1.7% during the 1st quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock worth $722,000 after buying an additional 300 shares during the period. Beacon Capital Management LLC boosted its stake in Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after buying an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in Halliburton by 3.1% in the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after acquiring an additional 330 shares during the period. Finally, Moody National Bank Trust Division raised its stake in Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after acquiring an additional 336 shares in the last quarter. 85.23% of the stock is currently owned by 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.