Halliburton (NYSE:HAL) Given New $34.00 Price Target at Piper Sandler

Halliburton (NYSE:HAL) had its price target lifted by Piper Sandler from $30.00 to $34.00 in a research note published on Wednesday,MarketScreener reports. The firm currently has a neutral rating on the oilfield services company’s stock.

Other research analysts have also issued reports about the company. Capital One Financial raised their price target on Halliburton from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Argus lifted their target price on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Halliburton in a research report on Wednesday, January 21st. HSBC set a $30.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.76.

Halliburton Trading Up 0.3%

Shares of Halliburton stock traded up $0.10 during trading hours on Wednesday, hitting $33.49. The company’s stock had a trading volume of 1,106,850 shares, compared to its average volume of 16,425,848. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. Halliburton has a twelve month low of $18.72 and a twelve month high of $35.55. The firm has a fifty day moving average of $29.57 and a 200-day moving average of $25.61.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. Halliburton’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. Research analysts forecast that Halliburton will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, December 3rd. Halliburton’s dividend payout ratio is 45.03%.

Insider Activity at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the sale, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Van H. Beckwith sold 54,348 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the completion of the transaction, the executive vice president directly owned 344,535 shares in the company, valued at $12,044,943.60. This trade represents a 13.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 497,002 shares of company stock worth $15,889,138 over the last three months. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently made changes to their positions in HAL. Clearstead Trust LLC increased its position in Halliburton by 7.4% during the third quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock worth $132,000 after buying an additional 370 shares during the period. Angeles Wealth Management LLC grew its position in Halliburton by 3.6% during the 3rd quarter. Angeles Wealth Management LLC now owns 11,320 shares of the oilfield services company’s stock worth $278,000 after purchasing an additional 392 shares during the last quarter. Greenleaf Trust increased its stake in Halliburton by 2.4% in the fourth quarter. Greenleaf Trust now owns 16,789 shares of the oilfield services company’s stock valued at $474,000 after purchasing an additional 399 shares during the period. True Wealth Design LLC raised its holdings in shares of Halliburton by 21.0% in the fourth quarter. True Wealth Design LLC now owns 2,434 shares of the oilfield services company’s stock valued at $69,000 after buying an additional 423 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Halliburton by 22.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock worth $58,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.