Halliburton (NYSE:HAL) PT Raised to $56.00

Halliburton (NYSE:HAL) had its price objective raised by Piper Sandler from $46.00 to $56.00 in a report published on Monday, MarketBeat Ratings reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other research firms have also commented on HAL. UBS Group lifted their price objective on Halliburton from $49.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Morgan Stanley restated an overweight rating and issued a $45.00 price objective on shares of Halliburton in a research note on Tuesday, August 1st. Capital One Financial started coverage on shares of Halliburton in a research note on Wednesday, June 7th. They set an overweight rating and a $41.00 price target for the company. Barclays decreased their price target on Halliburton from $58.00 to $49.00 in a research note on Thursday, July 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Halliburton from $50.00 to $45.00 in a report on Thursday, July 20th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Halliburton presently has a consensus rating of Buy and a consensus price target of $48.21.

Halliburton Stock Performance

Shares of HAL opened at $42.21 on Monday. The firm has a market cap of $37.93 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.68 and a beta of 2.18. The company’s fifty day moving average is $39.06 and its 200-day moving average is $34.58. The company has a quick ratio of 1.53, a current ratio of 2.14 and a debt-to-equity ratio of 0.91. Halliburton has a 12 month low of $23.30 and a 12 month high of $43.42.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Wednesday, July 19th. The oilfield services company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Halliburton had a return on equity of 31.01% and a net margin of 10.98%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that Halliburton will post 3.04 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $0.64 annualized dividend and a yield of 1.52%. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at Halliburton

In related news, CFO Eric Carre sold 66,589 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $35.00, for a total value of $2,330,615.00. Following the completion of the sale, the chief financial officer now owns 128,619 shares in the company, valued at $4,501,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Halliburton news, CFO Eric Carre sold 66,589 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $35.00, for a total value of $2,330,615.00. Following the sale, the chief financial officer now directly owns 128,619 shares in the company, valued at $4,501,665. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jill D. Sharp sold 3,686 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $38.00, for a total transaction of $140,068.00. Following the completion of the sale, the senior vice president now owns 52,109 shares of the company’s stock, valued at approximately $1,980,142. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,599 shares of company stock worth $7,777,309. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Halliburton by 47.1% during the 2nd quarter. Capital World Investors now owns 114,407,642 shares of the oilfield services company’s stock worth $3,774,308,000 after purchasing an additional 36,640,866 shares in the last quarter. Boston Partners boosted its holdings in shares of Halliburton by 4.5% in the 2nd quarter. Boston Partners now owns 25,748,754 shares of the oilfield services company’s stock valued at $853,795,000 after buying an additional 1,120,274 shares during the last quarter. Sanders Capital LLC raised its position in Halliburton by 3.8% during the first quarter. Sanders Capital LLC now owns 21,837,221 shares of the oilfield services company’s stock worth $690,930,000 after acquiring an additional 796,683 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Halliburton by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 19,079,068 shares of the oilfield services company’s stock worth $627,759,000 after purchasing an additional 387,735 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Halliburton by 65.5% during the fourth quarter. Morgan Stanley now owns 17,217,776 shares of the oilfield services company’s stock worth $677,520,000 after purchasing an additional 6,815,373 shares during the period. Institutional investors own 82.09% of the company’s stock.

About Halliburton

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.