Halliburton (NYSE:HAL) Price Target Raised to $45.00

Halliburton (NYSE:HAL) had its price target hoisted by BMO Capital Markets from $42.00 to $45.00 in a research note published on Wednesday,MarketScreener reports. They currently have a market perform rating on the oilfield services company’s stock.

A number of other research analysts have also recently weighed in on HAL. TD Cowen lifted their price objective on shares of Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Capital One Financial lifted their price objective on shares of Halliburton from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Piper Sandler boosted their target price on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Argus boosted their target price on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $37.00 to $55.00 in a research note on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $42.45.

Halliburton Stock Up 1.0%

HAL opened at $41.71 on Wednesday. Halliburton has a fifty-two week low of $19.38 and a fifty-two week high of $42.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The company has a fifty day moving average of $38.24 and a two-hundred day moving average of $33.12. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.81 and a beta of 0.73.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts expect that Halliburton will post 2.32 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. Halliburton’s payout ratio is currently 37.36%.

Insider Buying and Selling at Halliburton

In related news, COO Jeffrey Shannon Slocum sold 5,441 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $33.82, for a total transaction of $184,014.62. Following the transaction, the chief operating officer directly owned 187,423 shares in the company, valued at approximately $6,338,645.86. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the transaction, the director owned 15,250 shares in the company, valued at $636,230. The trade was a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 222,488 shares of company stock valued at $8,789,305. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clough Capital Partners L P acquired a new position in Halliburton during the first quarter worth about $22,085,000. SummitTX Capital L.P. boosted its position in Halliburton by 73.8% during the first quarter. SummitTX Capital L.P. now owns 227,188 shares of the oilfield services company’s stock worth $8,858,000 after acquiring an additional 96,497 shares during the last quarter. Lazard Asset Management LLC boosted its position in Halliburton by 846.3% during the first quarter. Lazard Asset Management LLC now owns 539,899 shares of the oilfield services company’s stock worth $21,051,000 after acquiring an additional 482,846 shares during the last quarter. Family Manage LLC acquired a new position in Halliburton during the first quarter worth about $257,000. Finally, Gateway Wealth Partners LLC acquired a new position in Halliburton during the first quarter worth about $771,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.