Halliburton (NYSE:HAL) Hits New 52-Week Low – Time to Sell?

Shares of Halliburton (NYSE:HAL) hit a new 52-week low during trading on Thursday . The company traded as low as $22.66 and last traded at $22.83, with a volume of 6027741 shares traded. The stock had previously closed at $25.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HAL shares. Barclays reduced their target price on shares of Halliburton from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Jefferies Financial Group decreased their target price on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Raymond James cut Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Evercore ISI cut their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler assumed coverage on shares of Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.37.

Halliburton Stock Down 11.0 %

The company has a 50-day moving average of $25.49 and a 200-day moving average of $27.80. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Wednesday, March 5th. Halliburton’s payout ratio is currently 24.03%.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 51,179 shares of Halliburton stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.00, for a total transaction of $1,279,475.00. Following the completion of the sale, the chief financial officer now owns 127,101 shares of the company’s stock, valued at approximately $3,177,525. The trade was a 28.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the sale, the vice president now owns 77,784 shares in the company, valued at approximately $1,913,486.40. The trade was a 11.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock worth $5,321,170 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

Institutional investors and hedge funds have recently bought and sold shares of the business. Sage Capital Advisors llc raised its holdings in shares of Halliburton by 0.3% during the first quarter. Sage Capital Advisors llc now owns 275,517 shares of the oilfield services company’s stock worth $6,990,000 after purchasing an additional 807 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Halliburton by 830.5% in the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company’s stock worth $52,000 after acquiring an additional 1,827 shares during the period. Park National Corp OH boosted its stake in shares of Halliburton by 6.2% during the 1st quarter. Park National Corp OH now owns 321,003 shares of the oilfield services company’s stock worth $8,144,000 after acquiring an additional 18,789 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Halliburton during the 4th quarter valued at about $28,000. Finally, 111 Capital purchased a new position in shares of Halliburton in the 4th quarter valued at about $483,000. 85.23% of the stock is currently 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.