Halliburton (NYSE:HAL) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Halliburton (NYSE:HAL) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $36.00 price objective on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $44.00 to $37.00 in a report on Friday, September 13th. BMO Capital Markets decreased their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. UBS Group cut Halliburton from a “buy” rating to a “neutral” rating and cut their price target for the company from $36.00 to $34.00 in a report on Monday, December 9th. Susquehanna decreased their price objective on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $39.58.

Halliburton Stock Up 0.8 %

HAL stock opened at $25.97 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The company has a 50-day moving average of $29.35 and a two-hundred day moving average of $31.00. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 3.61 and a beta of 1.90. Halliburton has a 52-week low of $25.51 and a 52-week high of $41.56.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Halliburton will post 3 EPS for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio is 23.69%.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently made changes to their positions in HAL. Geode Capital Management LLC raised its position in shares of Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after acquiring an additional 172,505 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Halliburton by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after buying an additional 1,681,620 shares during the period. Bank of New York Mellon Corp boosted its holdings in Halliburton by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 7,342,857 shares of the oilfield services company’s stock worth $248,042,000 after buying an additional 83,894 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Halliburton by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock worth $166,815,000 after buying an additional 115,504 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

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.