Halliburton (NYSE:HAL) Now Covered by Piper Sandler

Piper Sandler started coverage on shares of Halliburton (NYSE:HAL) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $36.00 price objective on the oilfield services company’s stock.

HAL has been the topic of a number of other reports. Morgan Stanley decreased their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Barclays reissued an “equal weight” rating and issued a $33.00 price objective (down from $43.00) on shares of Halliburton in a research report on Wednesday. Dbs Bank initiated coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price for the company. Raymond James lowered their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Halliburton Trading Down 1.5 %

Halliburton stock opened at $25.77 on Thursday. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 3.61 and a beta of 1.90. The firm has a 50-day moving average of $29.45 and a 200-day moving average of $31.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a one year low of $25.66 and a one year high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities analysts expect that Halliburton will post 3 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Halliburton’s payout ratio is presently 23.69%.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently modified their holdings of the business. MidWestOne Financial Group Inc. grew its stake in shares of Halliburton by 4.4% during the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after buying an additional 359 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Halliburton by 0.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after acquiring an additional 390 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares during the last quarter. Northwest Bank & Trust Co lifted its holdings in Halliburton by 3.2% during the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after buying an additional 397 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after buying an additional 412 shares during the period. 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.