Halliburton (NYSE:HAL) Price Target Raised to $34.00

Halliburton (NYSE:HAL) had its price objective raised by Piper Sandler from $30.00 to $34.00 in a research report report published on Wednesday,MarketScreener reports. The brokerage currently has a neutral rating on the oilfield services company’s stock.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Thursday, January 22nd. Citigroup boosted their target price on Halliburton from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Zephirin Group lowered shares of Halliburton from a “buy” rating to a “hold” rating and cut their target price for the stock from $30.00 to $28.00 in a research report on Friday, January 23rd. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price target on shares of Halliburton in a report on Wednesday, January 21st. Finally, Argus upped their price objective on shares of Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $34.76.

Halliburton Trading Up 0.4%

Halliburton stock opened at $33.52 on Wednesday. The company has a 50 day moving average price of $29.72 and a 200 day moving average price of $25.69. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.99 and a beta of 0.78. Halliburton has a 52 week low of $18.72 and a 52 week high of $35.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04.

Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.Halliburton’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. Research analysts forecast that Halliburton will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Insider Activity

In other Halliburton news, Director Margaret Katherine Banks sold 2,600 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares of the company’s stock, valued at approximately $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the completion of the transaction, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at $38,499,455.28. This trade represents a 13.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 497,002 shares of company stock worth $15,889,138. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC grew its holdings in Halliburton by 7.4% during the 3rd quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock worth $132,000 after acquiring an additional 370 shares during the period. Angeles Wealth Management LLC increased its stake in Halliburton by 3.6% during the 3rd quarter. Angeles Wealth Management LLC now owns 11,320 shares of the oilfield services company’s stock worth $278,000 after purchasing an additional 392 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Halliburton by 2.4% during the fourth quarter. Greenleaf Trust now owns 16,789 shares of the oilfield services company’s stock worth $474,000 after acquiring an additional 399 shares during the period. True Wealth Design LLC raised its stake in shares of Halliburton by 21.0% in the 4th quarter. True Wealth Design LLC now owns 2,434 shares of the oilfield services company’s stock valued at $69,000 after purchasing an additional 423 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Halliburton by 22.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock worth $58,000 after buying an additional 431 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.