Halliburton (NYSE:HAL) Receives Average Recommendation of “Buy” from Analysts

Halliburton (NYSE:HAL) has been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.88.

Several equities research analysts recently weighed in on HAL shares. JPMorgan Chase & Co. reduced their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Evercore ISI lowered their price target on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Citigroup decreased their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Jefferies Financial Group dropped their price target on shares of Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, July 29th.

Halliburton Trading Down 4.0 %

Shares of HAL opened at $29.85 on Friday. Halliburton has a 1-year low of $29.78 and a 1-year high of $43.85. The firm has a market capitalization of $26.35 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.06 and a beta of 1.93. The firm’s 50-day moving average price is $32.72 and its 200-day moving average price is $35.42. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s dividend payout ratio is 23.53%.

Insider Activity

In other news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Halliburton in the 2nd quarter worth approximately $521,000. Truist Financial Corp raised its stake in Halliburton by 20.9% in the second quarter. Truist Financial Corp now owns 1,490,642 shares of the oilfield services company’s stock worth $50,354,000 after buying an additional 257,403 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in Halliburton by 15.1% during the second quarter. Brandes Investment Partners LP now owns 4,279,478 shares of the oilfield services company’s stock worth $144,516,000 after buying an additional 560,325 shares during the period. Quarry LP bought a new stake in Halliburton during the 2nd quarter valued at $184,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Halliburton by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,739 shares of the oilfield services company’s stock valued at $1,410,000 after acquiring an additional 5,860 shares during the period. Institutional investors own 85.23% of the company’s stock.

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.