Halliburton (NYSE:HAL) Given New $40.00 Price Target at Argus

Halliburton (NYSE:HAL) had its target price lowered by Argus from $45.00 to $40.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Argus currently has a buy rating on the oilfield services company’s stock.

A number of other brokerages have also recently issued reports on HAL. HSBC upped their target price on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets set a $37.00 price objective on Halliburton in a report on Wednesday. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $43.00 target price (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.14.

Halliburton Stock Performance

NYSE HAL opened at $32.68 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.54. Halliburton has a 1 year low of $20.39 and a 1 year high of $43.59. The company has a market capitalization of $27.30 billion, a PE ratio of 17.11, a P/E/G ratio of 1.52 and a beta of 0.71. The company has a fifty day moving average of $37.11 and a two-hundred day moving average of $36.47.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that Halliburton will post 2.36 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. Halliburton’s dividend payout ratio is presently 37.36%.

Insider Buying and Selling

In other news, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the sale, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. The trade was a 10.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the transaction, the director owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Halliburton

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nvest Wealth Strategies Inc. purchased a new stake in shares of Halliburton in the fourth quarter valued at about $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton during the 2nd quarter worth approximately $25,000. Zions Bancorporation National Association UT raised its position in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Finally, Matrix Trust Co acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $29,000. 85.23% of the stock is owned by institutional investors and hedge funds.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won a new contract with Basra Oil Company to provide integrated field management, digital solutions, and EPCM services in southern Iraq, adding another large-scale international project to its backlog. Halliburton (HAL) Lands Iraq Field Development Contract With Basra Oil Company
• Positive Sentiment: The company also secured a multi-year agreement with Kuwait Oil Company to support the Ahmadi Innovation Valley, reinforcing Halliburton’s international growth story and technology-led strategy. Halliburton’s Outlook Improves as New Awards Build Momentum After Flat Q2, RBC Says
• Positive Sentiment: Second-quarter results topped expectations, with revenue of $5.71 billion and EPS of $0.55, while international revenue hit a 10-year high and margins expanded, which supports confidence in earnings resilience. Halliburton Tops Estimates as International Demand Strengthens
• Neutral Sentiment: Several brokerages lowered price targets after the earnings release, but most kept bullish ratings, suggesting analysts still see upside despite a more cautious valuation view. These Analysts Cut Their Forecasts On Halliburton Following Q2 Results
• Negative Sentiment: The company’s post-earnings outlook was described as tepid by some coverage, with warnings about a slower Middle East recovery and uneven execution tempering enthusiasm. Halliburton tumbles on tepid revenue forecast, Middle East recovery warning

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.