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

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

A number of research firms have weighed in on HAL. Royal Bank Of Canada lifted their price target on shares of Halliburton from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Barclays dropped their price objective on shares of Halliburton from $53.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Piper Sandler reduced their price objective on shares of Halliburton from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, October 19th. UBS Group reduced their price objective on shares of Halliburton from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Finally, Freedom Broker raised shares of Halliburton from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $40.00 in a research note on Thursday, October 22nd.

Insiders Place Their Bets

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

Institutional Trading of Halliburton

Large investors have recently bought and sold shares of the stock. Bank of Nova Scotia raised its holdings in shares of Halliburton by 128.8% in the first quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company’s stock valued at $89,077,000 after buying an additional 1,286,095 shares during the last quarter. Private Advisory Group LLC acquired a new position in Halliburton during the 2nd quarter worth about $10,443,000. Carrhae Capital LLP grew its holdings in Halliburton by 21.5% during the 2nd quarter. Carrhae Capital LLP now owns 726,193 shares of the oilfield services company’s stock worth $24,654,000 after acquiring an additional 128,472 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Halliburton by 18.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 961,660 shares of the oilfield services company’s stock worth $32,648,000 after acquiring an additional 147,329 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new stake in Halliburton in the 1st quarter valued at about $5,891,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

HAL opened at $31.83 on Friday. Halliburton has a 12-month low of $24.92 and a 12-month high of $43.59. The company has a quick ratio of 1.48, a current ratio of 2.02 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $26.33 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The stock’s 50 day moving average price is $33.92 and its two-hundred day moving average price is $35.74.

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

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. Halliburton’s dividend payout ratio (DPR) is currently 28.45%.

Halliburton Company Profile

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.