Halliburton (NYSE:HAL) Price Target Raised to $40.00

Halliburton (NYSE:HAL) had its price objective boosted by Rothschild & Co Redburn from $35.00 to $40.00 in a report published on Wednesday morning,MarketScreener reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. Stifel Nicolaus set a $36.00 price target on Halliburton in a research note on Thursday, January 22nd. TD Cowen increased their price objective on shares of Halliburton from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on shares of Halliburton from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Susquehanna raised their price target on shares of Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. Finally, Piper Sandler boosted their price objective on shares of Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.19.

Halliburton Trading Down 0.7%

NYSE:HAL opened at $35.14 on Wednesday. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.11 and a beta of 0.77. Halliburton has a 52 week low of $18.72 and a 52 week high of $35.85. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $31.83 and a 200 day moving average of $26.98.

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

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio (DPR) is 45.03%.

Insider Buying and Selling at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the sale, the director directly owned 14,043 shares of the company’s stock, valued at approximately $479,849.31. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Van H. Beckwith sold 54,348 shares of Halliburton stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president owned 344,535 shares of the company’s stock, valued at $12,044,943.60. The trade was a 13.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 337,002 shares of company stock valued at $11,445,938. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors lifted its stake in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. Vanguard Group Inc. boosted its stake in shares of Halliburton by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock worth $2,147,310,000 after acquiring an additional 1,617,696 shares in the last quarter. State Street Corp grew its position in shares of Halliburton by 1.7% during the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after acquiring an additional 861,964 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Halliburton by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after acquiring an additional 443,064 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

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.