Halliburton (NYSE:HAL) Price Target Lowered to $39.00 at Wells Fargo & Company

Halliburton (NYSE:HAL) had its price target trimmed by Wells Fargo & Company from $46.00 to $39.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the oilfield services company’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Halliburton from a buy rating to a hold rating in a research note on Wednesday, July 3rd. Bank of America decreased their price target on shares of Halliburton from $41.00 to $40.00 and set a buy rating for the company in a research report on Monday, July 22nd. Susquehanna cut their price objective on shares of Halliburton from $49.00 to $46.00 and set a positive rating on the stock in a research report on Monday, July 22nd. Piper Sandler reduced their price objective on shares of Halliburton from $46.00 to $40.00 and set an overweight rating for the company in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Halliburton from $47.00 to $40.00 and set a buy rating for the company in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $42.56.

Halliburton Trading Up 3.0 %

NYSE:HAL opened at $28.64 on Wednesday. The firm has a 50-day simple moving average of $30.94 and a 200-day simple moving average of $34.66. Halliburton has a one year low of $27.52 and a one year high of $43.85. The firm has a market cap of $25.36 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.02 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Equities analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.37%. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of institutional investors have recently bought and sold shares of HAL. Rise Advisors LLC purchased a new stake in shares of Halliburton in the 1st quarter valued at $26,000. Johnson Financial Group Inc. purchased a new stake in Halliburton in the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC grew its position in Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after purchasing an additional 822 shares during the period. Crewe Advisors LLC purchased a new position in shares of Halliburton during the 1st quarter valued at about $46,000. Finally, Assetmark Inc. lifted its holdings in shares of Halliburton by 286.2% in the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock valued at $43,000 after buying an additional 890 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.