Halliburton (NYSE:HAL) Sees Significant Decrease in Short Interest

Halliburton (NYSE:HAL) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 23,380,000 shares, a drop of 5.2% from the May 15th total of 24,660,000 shares. Based on an average daily volume of 6,110,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HAL shares. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup raised their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TD Cowen upped their target price on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group raised their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Finally, Morgan Stanley upped their price objective on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.06.

Halliburton Stock Down 1.4 %

HAL opened at $32.94 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12. The company has a market capitalization of $29.16 billion, a PE ratio of 11.40, a P/E/G ratio of 0.85 and a beta of 1.93. The stock’s fifty day moving average is $36.63 and its 200-day moving average is $36.41. Halliburton has a one year low of $30.04 and a one year high of $43.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, equities analysts predict that Halliburton will post 3.39 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be given a $0.17 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.68 annualized dividend and a yield of 2.06%. Halliburton’s dividend payout ratio (DPR) is 23.53%.

Insider Transactions at Halliburton

In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the transaction, the insider now directly owns 130,783 shares in the company, valued at $4,828,508.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Halliburton news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the sale, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The disclosure for this sale can be found here. Insiders have sold 52,287 shares of company stock worth $1,930,704 over the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halliburton

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in shares of Halliburton in the 1st quarter valued at $26,000. IAG Wealth Partners LLC acquired a new position in shares of Halliburton in the first quarter worth about $30,000. Ancora Advisors LLC increased its position in shares of Halliburton by 443.8% in the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after acquiring an additional 719 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Halliburton during the fourth quarter valued at approximately $33,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Halliburton in the 4th quarter valued at approximately $36,000. 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.