Halliburton (NYSE:HAL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Halliburton (NYSE:HAL) have been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.42.

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Piper Sandler initiated coverage on shares of Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. Morgan Stanley lowered their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th.

Halliburton Trading Up 1.0 %

NYSE HAL opened at $27.02 on Friday. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 3.76 and a beta of 1.89. The firm has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $28.96. Halliburton has a one year low of $25.16 and a one year high of $41.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.52%. Halliburton’s dividend payout ratio is currently 24.03%.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the transaction, the chief financial officer now owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. Mediolanum International Funds Ltd raised its stake in shares of Halliburton by 48.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock valued at $1,931,000 after acquiring an additional 23,340 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Halliburton by 3.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock valued at $61,375,000 after buying an additional 80,567 shares during the period. Cary Street Partners Asset Management LLC grew its holdings in shares of Halliburton by 56.5% during the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after purchasing an additional 56,707 shares during the last quarter. Massachusetts Wealth Management increased its position in Halliburton by 180.9% in the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock worth $1,188,000 after buying an additional 28,125 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.