Piper Sandler Boosts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HALGet Rating) had its price objective upped by Piper Sandler from $43.00 to $48.00 in a report issued on Friday morning, The Fly reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other research firms also recently issued reports on HAL. Barclays boosted their price target on Halliburton from $53.00 to $54.00 and gave the company an overweight rating in a research note on Wednesday, October 26th. Jefferies Financial Group began coverage on Halliburton in a research note on Wednesday, October 19th. They set a buy rating and a $40.00 price objective for the company. Susquehanna Bancshares boosted their price objective on Halliburton from $48.00 to $51.00 in a research note on Wednesday, October 26th. Stephens cut their price objective on Halliburton to $32.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley boosted their price objective on Halliburton from $50.00 to $53.00 and gave the company an overweight rating in a research note on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $43.99.

Halliburton Trading Down 2.0 %

Halliburton stock opened at $36.71 on Friday. The business has a 50-day simple moving average of $31.96 and a two-hundred day simple moving average of $32.35. The company has a market cap of $33.33 billion, a P/E ratio of 19.02 and a beta of 2.23. Halliburton has a 52-week low of $20.77 and a 52-week high of $43.99. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.04.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. Halliburton’s dividend payout ratio (DPR) is 24.87%.

Insider Transactions at Halliburton

In other news, Director Margaret Katherine Banks sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $35.49, for a total transaction of $212,940.00. Following the sale, the director now directly owns 14,625 shares of the company’s stock, valued at approximately $519,041.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Halliburton by 8.1% during the 1st quarter. BlackRock Inc. now owns 72,922,850 shares of the oilfield services company’s stock valued at $2,761,589,000 after purchasing an additional 5,460,366 shares during the last quarter. Capital World Investors increased its position in shares of Halliburton by 1.5% during the 1st quarter. Capital World Investors now owns 61,612,082 shares of the oilfield services company’s stock valued at $2,333,250,000 after purchasing an additional 915,157 shares during the last quarter. State Street Corp increased its position in shares of Halliburton by 2.1% during the 3rd quarter. State Street Corp now owns 59,383,523 shares of the oilfield services company’s stock valued at $1,462,022,000 after purchasing an additional 1,241,290 shares during the last quarter. FMR LLC increased its position in shares of Halliburton by 29.1% during the 2nd quarter. FMR LLC now owns 53,246,045 shares of the oilfield services company’s stock valued at $1,669,796,000 after purchasing an additional 12,006,012 shares during the last quarter. Finally, Sanders Capital LLC increased its position in shares of Halliburton by 3.0% during the 3rd quarter. Sanders Capital LLC now owns 21,366,658 shares of the oilfield services company’s stock valued at $526,047,000 after purchasing an additional 622,878 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.

Halliburton Company Profile

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Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

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