Analysts Set Halliburton Company (NYSE:HAL) Price Target at $43.10

Shares of Halliburton Company (NYSE:HAL) have earned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $43.0952.

A number of analysts have weighed in on the company. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. UBS Group cut their price target on Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Morgan Stanley reduced their price target on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Argus decreased their price objective on Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, TD Cowen dropped their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd.

Halliburton Stock Performance

Shares of Halliburton stock opened at $35.55 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average price is $33.79 and its 200-day moving average price is $36.54. The firm has a market cap of $29.62 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.16 and a beta of 0.73. Halliburton has a 12 month low of $21.40 and a 12 month high of $43.59.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Halliburton will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s payout ratio is currently 35.60%.

Insider Activity

In other news, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer directly owned 118,730 shares in the company, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% 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. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Institutional investors and hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors purchased a new stake in shares of Halliburton during the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. purchased a new position in Halliburton during the 2nd quarter worth $25,000. Kilter Group LLC acquired a new position in Halliburton during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in Halliburton during the 2nd quarter valued at about $26,000. Finally, Silvant Capital Management LLC purchased a new stake in Halliburton in the second quarter valued at about $28,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Halliburton

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.