Halliburton (NYSE:HAL) PT Lowered to $45.00

Halliburton (NYSE:HAL) had its price target trimmed by Citigroup from $50.00 to $45.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

Several other analysts have also recently weighed in on the stock. TD Cowen increased their price target on shares of Halliburton from $47.00 to $48.00 and gave the company a buy rating in a research note on Wednesday, April 24th. UBS Group increased their price target on shares of Halliburton from $46.00 to $51.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Benchmark reissued a buy rating and issued a $45.00 price target on shares of Halliburton in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Halliburton from a hold rating to a buy rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $48.75.

Halliburton Stock Down 1.0 %

Shares of NYSE HAL opened at $33.43 on Friday. Halliburton has a 12-month low of $32.35 and a 12-month high of $43.85. The stock has a market cap of $29.60 billion, a PE ratio of 11.57, a P/E/G ratio of 0.86 and a beta of 1.93. 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 50-day moving average of $35.89 and a 200 day moving average of $36.35.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Halliburton’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton will post 3.37 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.03%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Insiders Place Their Bets

In other Halliburton news, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the sale, the insider now directly owns 130,783 shares in the company, valued at approximately $4,828,508.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the sale, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares in the company, valued at $4,828,508.36. The disclosure for this sale can be found here. Insiders have sold a total of 52,287 shares of company stock worth $1,930,704 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halliburton

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC raised its holdings in shares of Halliburton by 14.7% in the 1st quarter. Quent Capital LLC now owns 2,887 shares of the oilfield services company’s stock valued at $114,000 after purchasing an additional 369 shares in the last quarter. HM Payson & Co. grew its position in shares of Halliburton by 19.2% in the 1st quarter. HM Payson & Co. now owns 20,500 shares of the oilfield services company’s stock valued at $808,000 after buying an additional 3,300 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Halliburton by 319.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock valued at $1,385,000 after buying an additional 28,137 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Halliburton by 22.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 323,841 shares of the oilfield services company’s stock valued at $12,517,000 after buying an additional 59,069 shares during the last quarter. Finally, Maxwell Wealth Strategies Inc. grew its position in shares of Halliburton by 375.4% in the 1st quarter. Maxwell Wealth Strategies Inc. now owns 45,609 shares of the oilfield services company’s stock valued at $1,640,000 after buying an additional 36,016 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.