Analysts Set Halliburton Company (NYSE:HAL) Price Target at $43.27

Halliburton Company (NYSE:HAL) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.2727.

A number of research firms have recently commented on HAL. UBS Group increased their target price on shares of Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $37.00 to $55.00 in a research report on Thursday, May 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research report on Sunday, April 26th. HSBC raised their price objective on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler raised their price objective on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Negative Sentiment: Halliburton fell as oil prices dropped sharply after reports of a U.S.-Iran peace deal eased supply concerns and pressured the outlook for drilling and completion activity. Why Halliburton (HAL) Stock Is Down Today
• Negative Sentiment: Peers in oilfield services, including SLB, Valaris, Transocean, Helmerich & Payne, Patterson-UTI, ProFrac, and ProPetro, also declined, reinforcing that the move is sector-wide rather than company-specific. Valaris, Transocean, and Helmerich & Payne Stocks Trade Down, What You Need To Know
• Neutral Sentiment: Recent coverage also highlighted Halliburton as an oilfield-services name positioned to navigate weaker industry conditions, but that does not offset the immediate pressure from softer energy prices. Zacks Industry Outlook Highlights Halliburton, TechnipFMC and Weatherford International

Insiders Place Their Bets

In related news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the sale, the vice president directly owned 72,976 shares of the company’s stock, valued at approximately $3,064,992. The trade was a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 391,932 shares of company stock worth $15,999,453 in the last quarter. Insiders own 0.57% of the company’s stock.

Institutional Trading of Halliburton

Several hedge funds have recently bought and sold shares of HAL. Capital Research Global Investors grew its position in Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after acquiring an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC bought a new position in Halliburton during the 3rd quarter valued at $418,738,000. Norges Bank bought a new position in Halliburton during the 4th quarter valued at $169,304,000. Finally, Holocene Advisors LP bought a new position in Halliburton during the 3rd quarter valued at $147,315,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Down 3.7%

Shares of HAL opened at $38.13 on Thursday. The company has a market cap of $31.85 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.71 and a beta of 0.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton has a one year low of $20.09 and a one year high of $43.59. The firm has a 50 day simple moving average of $39.84 and a two-hundred day simple moving average of $35.18.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. Research analysts forecast that Halliburton will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.8%. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.