Shares of Halliburton (NYSE:HAL – Get Free Report) were up 0.9% during trading on Tuesday . The stock traded as high as $38.35 and last traded at $38.29. Approximately 787,427 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 6,716,116 shares. The stock had previously closed at $37.96.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on HAL. Wells Fargo & Company cut their price objective on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a report on Wednesday, January 24th. Raymond James cut their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Susquehanna restated a “positive” rating and set a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. Finally, Citigroup lifted their price objective on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.59.
Halliburton Stock Down 0.9 %
The firm’s 50 day moving average price is $38.50 and its 200-day moving average price is $36.90. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The company has a market cap of $33.31 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 0.96 and a beta of 2.01.
Halliburton (NYSE:HAL – Get Free Report) last released its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, equities research analysts expect that Halliburton will post 3.39 EPS for the current year.
Halliburton Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.81%. Halliburton’s dividend payout ratio is presently 23.53%.
Insiders Place Their Bets
In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the transaction, the senior vice president now owns 40,185 shares in the company, valued at approximately $1,486,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 434,287 shares of company stock worth $15,415,304. Insiders own 0.61% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in HAL. Atria Investments Inc acquired a new position in Halliburton in the 1st quarter worth $1,370,000. Wahed Invest LLC boosted its position in shares of Halliburton by 13.5% during the first quarter. Wahed Invest LLC now owns 17,407 shares of the oilfield services company’s stock worth $686,000 after buying an additional 2,070 shares during the period. Advisory Resource Group grew its holdings in shares of Halliburton by 21.4% during the first quarter. Advisory Resource Group now owns 113,264 shares of the oilfield services company’s stock worth $4,465,000 after buying an additional 19,930 shares in the last quarter. Plato Investment Management Ltd raised its position in Halliburton by 4,371.8% in the 1st quarter. Plato Investment Management Ltd now owns 30,766 shares of the oilfield services company’s stock valued at $1,213,000 after buying an additional 30,078 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in Halliburton by 12.3% in the 1st quarter. iA Global Asset Management Inc. now owns 63,967 shares of the oilfield services company’s stock valued at $2,522,000 after acquiring an additional 7,002 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.
Halliburton Company Profile
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.