Halliburton (NYSE:HAL) Price Target Cut to $40.00 by Analysts at Piper Sandler

Halliburton (NYSE:HAL) had its target price reduced by Piper Sandler from $46.00 to $40.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other equities analysts have also recently issued reports on HAL. StockNews.com cut Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. TD Cowen dropped their price target on Halliburton from $47.00 to $45.00 and set a buy rating on the stock in a research note on Monday. Bank of America cut their price objective on Halliburton from $45.00 to $41.00 and set a buy rating on the stock in a report on Monday, July 15th. Morgan Stanley raised their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada cut their price target on shares of Halliburton from $45.00 to $44.00 and set an outperform rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $45.53.

Halliburton Price Performance

Shares of NYSE HAL opened at $34.18 on Monday. Halliburton has a twelve month low of $32.60 and a twelve month high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $34.53 and a two-hundred day moving average of $36.05. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.11 and a beta of 1.93.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. As a group, analysts expect that Halliburton will post 3.2 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, June 5th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity at Halliburton

In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the transaction, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Jill D. Sharp sold 3,346 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the transaction, the senior vice president now owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,287 shares of company stock valued at $2,298,204. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Halliburton in the 1st quarter valued at $26,000. IAG Wealth Partners LLC acquired a new stake in shares of Halliburton in the first quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in shares of Halliburton in the fourth quarter worth about $33,000. Princeton Global Asset Management LLC acquired a new position in shares of Halliburton during the 4th quarter worth about $36,000. Finally, First United Bank & Trust bought a new stake in Halliburton during the 4th quarter valued at approximately $36,000. 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.