Halliburton (NYSE:HAL) Receives $37.42 Consensus Price Target from Brokerages

Shares of Halliburton (NYSE:HAL) have received an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $37.42.

HAL has been the subject of several research analyst reports. UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $34.00 in a report on Monday, December 9th. Evercore ISI cut their price target on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Raymond James cut Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Benchmark lowered their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd.

Insider Transactions at Halliburton

In related news, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its stake in Halliburton by 11.9% in the 3rd quarter. Creative Planning now owns 173,555 shares of the oilfield services company’s stock worth $5,042,000 after purchasing an additional 18,396 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Halliburton by 94.3% in the 3rd quarter. Blue Trust Inc. now owns 13,641 shares of the oilfield services company’s stock worth $396,000 after purchasing an additional 6,620 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Halliburton by 4.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,518 shares of the oilfield services company’s stock worth $422,000 after acquiring an additional 667 shares during the period. Signaturefd LLC grew its position in shares of Halliburton by 5.2% during the third quarter. Signaturefd LLC now owns 15,979 shares of the oilfield services company’s stock worth $464,000 after purchasing an additional 796 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Halliburton during the 3rd quarter valued at about $103,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

Halliburton stock opened at $26.25 on Friday. Halliburton has a 52-week low of $25.16 and a 52-week high of $41.56. The firm has a market capitalization of $22.78 billion, a P/E ratio of 9.27, a P/E/G ratio of 3.79 and a beta of 1.89. The stock has a fifty day moving average price of $27.02 and a two-hundred day moving average price of $28.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.59%. Halliburton’s dividend payout ratio is currently 24.03%.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.