Halliburton Company (NYSE:HAL) Stock Has Average Target Price of $43.86

Halliburton Company (NYSE:HAL) has earned a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.86.

A number of analysts have commented on HAL shares. Jefferies Financial Group boosted their price target on shares of Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Morgan Stanley decreased their price objective on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Barclays lowered their price objective on shares of Halliburton from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Piper Sandler dropped their target price on Halliburton from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, Royal Bank Of Canada boosted their target price on Halliburton from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st.

Insider Activity at Halliburton

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Halliburton in the second quarter valued at about $2,812,327,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Halliburton in the 2nd quarter valued at approximately $345,941,000. Bank of New York Mellon Corp acquired a new position in Halliburton during the second quarter worth $337,486,000. Bank of America Corp DE acquired a new position in Halliburton during the second quarter worth $196,444,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in Halliburton in the second quarter valued at $194,675,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of NYSE HAL opened at $32.75 on Friday. The company has a 50-day simple moving average of $33.74 and a 200-day simple moving average of $35.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.48. The company has a market cap of $27.09 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. Halliburton has a 12 month low of $24.92 and a 12 month high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.58 billion. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. On average, equities analysts anticipate that Halliburton will post 2.33 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Halliburton’s payout ratio is currently 28.45%.

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well. Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.