Halliburton (NYSE:HAL) Sets New 52-Week High Following Analyst Upgrade

Halliburton Company (NYSE:HAL) shares hit a new 52-week high during trading on Monday after Rothschild & Co Redburn raised their price target on the stock from $40.00 to $49.00. Rothschild & Co Redburn currently has a buy rating on the stock. Halliburton traded as high as $42.62 and last traded at $42.59, with a volume of 2355813 shares changing hands. The stock had previously closed at $41.76.

Other equities analysts have also recently issued research reports about the stock. Evercore raised shares of Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Friday, March 20th. Susquehanna increased their price objective on shares of Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Piper Sandler increased 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. Royal Bank Of Canada increased their price objective on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, HSBC raised their price objective on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.45.

Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 8,655 shares of the firm’s stock in a transaction dated 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 owned 72,976 shares in the company, valued at approximately $3,064,992. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 5,441 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $33.82, for a total transaction of $184,014.62. Following the sale, the chief operating officer owned 187,423 shares of the company’s stock, valued at approximately $6,338,645.86. The trade was a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 222,488 shares of company stock worth $8,789,305. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several large investors have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Halliburton by 10.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock worth $109,000 after purchasing an additional 258 shares during the last quarter. Vermillion Wealth Management Inc. increased its stake in shares of Halliburton by 24.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after purchasing an additional 289 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Halliburton by 1.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after purchasing an additional 349 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Halliburton by 7.3% during the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after purchasing an additional 361 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in shares of Halliburton by 3.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after purchasing an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

The company’s 50 day moving average price is $38.24 and its 200-day moving average price is $33.16. 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 market cap of $35.70 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.37 billion. During the same quarter last year, the business posted $0.60 EPS. Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts anticipate that Halliburton Company will post 2.32 earnings per share for the current fiscal year.

Halliburton Announces Dividend

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