Halliburton (NYSE:HAL) PT Lowered to $40.00 at Bank of America

Halliburton (NYSE:HAL) had its target price reduced by Bank of America from $41.00 to $40.00 in a research note released on Monday, Benzinga reports. Bank of America currently has a buy rating on the oilfield services company’s stock.

A number of other analysts have also weighed in on the stock. Evercore ISI lowered their price target on shares of Halliburton from $52.00 to $48.00 and set an outperform rating for the company in a report on Monday. UBS Group raised their price objective on shares of Halliburton from $46.00 to $51.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. StockNews.com downgraded Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. Citigroup cut their target price on Halliburton from $50.00 to $45.00 and set a buy rating on the stock in a research note on Friday, June 28th. Finally, The Goldman Sachs Group upped their price target on Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $45.53.

Halliburton Stock Performance

NYSE HAL opened at $32.99 on Monday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.95 and a beta of 1.93. 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 has a 1-year low of $32.60 and a 1-year high of $43.85. The company has a 50 day moving average of $34.60 and a 200-day moving average of $36.06.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities analysts forecast that Halliburton will post 3.28 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were issued a $0.17 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.06%. Halliburton’s payout ratio is 23.53%.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was 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 in the company, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the transaction, the senior vice president now owns 40,185 shares in the company, valued at approximately $1,486,845. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,287 shares of company stock worth $2,298,204. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of large investors have recently made changes to their positions in HAL. Premier Path Wealth Partners LLC acquired a new stake in shares of Halliburton in the fourth quarter valued at approximately $237,000. CVA Family Office LLC acquired a new position in Halliburton during the fourth quarter worth about $58,000. Pacer Advisors Inc. increased its position in Halliburton by 3.5% during the 4th quarter. Pacer Advisors Inc. now owns 59,266 shares of the oilfield services company’s stock worth $2,142,000 after purchasing an additional 2,010 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Halliburton in the 4th quarter valued at approximately $378,000. Finally, Invera Wealth Advisors LLC acquired a new position in shares of Halliburton during the fourth quarter worth $1,066,000. Institutional investors own 85.23% of the company’s stock.

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.