Susquehanna Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target lowered by analysts at Susquehanna from $35.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price target suggests a potential upside of 50.50% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of Halliburton in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Piper Sandler initiated coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.95.

Halliburton Stock Performance

Shares of HAL stock opened at $21.26 on Monday. The company has a market capitalization of $18.33 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45. Halliburton has a 52 week low of $18.72 and a 52 week high of $39.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The company’s 50 day moving average price is $24.48 and its two-hundred day moving average price is $27.27.

Insider Transactions at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 3,900 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total value of $93,756.00. Following the sale, the director now owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the transaction, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,782 shares of company stock worth $5,321,170. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mediolanum International Funds Ltd grew its position in shares of Halliburton by 48.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock valued at $1,931,000 after buying an additional 23,340 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Halliburton by 18.2% in the fourth quarter. Sei Investments Co. now owns 278,934 shares of the oilfield services company’s stock worth $7,584,000 after acquiring an additional 42,876 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Halliburton by 3.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock valued at $61,375,000 after acquiring an additional 80,567 shares during the last quarter. Congress Asset Management Co. acquired a new stake in Halliburton during the 4th quarter valued at approximately $621,000. Finally, Massachusetts Wealth Management raised its holdings in Halliburton by 180.9% during the 4th quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock worth $1,188,000 after purchasing an additional 28,125 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.