Halliburton (NYSE:HAL) Price Target Raised to $28.00

Halliburton (NYSE:HAL) had its target price lifted by Zephirin Group from $27.00 to $28.00 in a report issued on Thursday morning,MarketScreener reports. The firm currently has a buy rating on the oilfield services company’s stock.

A number of other equities research analysts have also commented on the stock. Susquehanna reduced their price objective on shares of Halliburton from $30.00 to $27.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Barclays reduced their price objective on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Piper Sandler lowered shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Monday, July 28th. Finally, Melius initiated coverage on shares of Halliburton in a research note on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Halliburton Trading Down 0.3%

Shares of NYSE HAL opened at $24.31 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. Halliburton has a 52-week low of $18.72 and a 52-week high of $32.57. The firm has a 50 day moving average price of $22.42 and a two-hundred day moving average price of $21.83. The stock has a market cap of $20.72 billion, a P/E ratio of 11.36 and a beta of 1.02.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $0.80 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts forecast that Halliburton will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 2.8%. Halliburton’s dividend payout ratio is currently 31.78%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new position in shares of Halliburton in the second quarter valued at $25,000. Stone House Investment Management LLC purchased a new stake in shares of Halliburton in the first quarter valued at about $30,000. Rakuten Securities Inc. raised its holdings in shares of Halliburton by 547.3% in the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the last quarter. Cape Investment Advisory Inc. raised its holdings in shares of Halliburton by 111.9% in the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 900 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Halliburton by 87.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 656 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.