Halliburton Company (NYSE:HAL) Receives $43.24 Average Price Target from Analysts

Halliburton Company (NYSE:HAL) has earned an average recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $43.2381.

A number of research analysts have weighed in on HAL shares. Wall Street Zen upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen dropped their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. UBS Group increased their price objective on Halliburton from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Susquehanna decreased their target price on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Citigroup boosted their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd.

Insider Buying and Selling at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors have recently bought and sold shares of HAL. The Manufacturers Life Insurance Company lifted its position in shares of Halliburton by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 553,347 shares of the oilfield services company’s stock valued at $18,786,000 after buying an additional 17,233 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Halliburton by 32.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 66,712 shares of the oilfield services company’s stock worth $2,265,000 after acquiring an additional 16,381 shares during the period. MCF Advisors LLC increased its holdings in shares of Halliburton by 12.7% during the 2nd quarter. MCF Advisors LLC now owns 9,732 shares of the oilfield services company’s stock worth $330,000 after acquiring an additional 1,094 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Halliburton by 461.6% during the 2nd quarter. WINTON GROUP Ltd now owns 408,281 shares of the oilfield services company’s stock worth $13,861,000 after acquiring an additional 335,581 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in Halliburton by 902.5% in the 2nd quarter. Engineers Gate Manager LP now owns 817,532 shares of the oilfield services company’s stock valued at $27,755,000 after acquiring an additional 735,984 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $33.40 on Friday. Halliburton has a 12 month low of $21.46 and a 12 month high of $43.59. The company’s fifty day simple moving average is $34.41 and its 200-day simple moving average is $36.66. The firm has a market cap of $27.83 billion, a PE ratio of 17.49, a P/E/G ratio of 1.94 and a beta of 0.76. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that Halliburton will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s dividend payout ratio (DPR) is 35.60%.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed memorandums of understanding with Brazilian energy producer Eneva and Venezuelan engineering company WESCA to pursue energy-development opportunities in Venezuela. The agreements could position Halliburton to benefit if investment and oil-and-gas activity recover in the underdeveloped market. Halliburton signs Venezuela energy pacts with Eneva, WESCA
• Positive Sentiment: The Venezuela initiative broadens Halliburton’s geographic growth prospects and could create future work in drilling, well construction, completion and other oilfield services. The company is seeking to support customers as a potential revival of Venezuela’s energy industry develops. Halliburton Signs Deals to Expand Venezuela Energy Presence
• Positive Sentiment: Halliburton also has a recently announced multi-year integrated contract from Eni for the Cronos ultra-deepwater development offshore Cyprus. The award spans drilling, well construction, automation and completion services, potentially improving revenue visibility and increasing the value of services per project. Halliburton Wins Integrated Cyprus Contract
• Neutral Sentiment: The Venezuela announcements are MOUs rather than firm contracts, so they do not establish a specific revenue contribution or project timetable. Investors will likely look for follow-on awards and evidence that the agreements translate into profitable activity. Halliburton Joins With Eneva, WESCA
• Negative Sentiment: Execution in Venezuela remains subject to political, regulatory and sanctions-related uncertainty. These risks could delay projects or limit the financial benefit of Halliburton’s return to the market, tempering the immediate stock reaction. Halliburton to reenter Venezuela via MOUs

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.