Halliburton (NYSE:HAL) Given Consensus Recommendation of “Buy” by Brokerages

Halliburton (NYSE:HAL) has been assigned an average recommendation of “Buy” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $44.88.

Several analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 28th. Benchmark reissued a “buy” rating and set a $42.00 target price on shares of Halliburton in a research report on Monday, July 22nd. Royal Bank of Canada cut their price target on Halliburton from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Bank of America decreased their price objective on Halliburton from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Susquehanna cut their target price on Halliburton from $49.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, July 22nd.

Halliburton Stock Down 1.2 %

HAL stock opened at $29.07 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market cap of $25.74 billion, a PE ratio of 10.06, a PEG ratio of 1.06 and a beta of 1.89. Halliburton has a 1 year low of $28.99 and a 1 year high of $43.85. The company has a fifty day simple moving average of $32.54 and a 200 day simple moving average of $35.34.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The firm’s revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Halliburton in the 2nd quarter valued at $2,257,000. New Wave Wealth Advisors LLC bought a new position in Halliburton in the second quarter valued at about $521,000. Truist Financial Corp increased its position in Halliburton by 20.9% in the second quarter. Truist Financial Corp now owns 1,490,642 shares of the oilfield services company’s stock worth $50,354,000 after purchasing an additional 257,403 shares during the period. Brandes Investment Partners LP raised its holdings in Halliburton by 15.1% during the 2nd quarter. Brandes Investment Partners LP now owns 4,279,478 shares of the oilfield services company’s stock worth $144,516,000 after purchasing an additional 560,325 shares during the last quarter. Finally, Quarry LP acquired a new position in Halliburton during the 2nd quarter valued at about $184,000. Institutional investors 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.