Halliburton (NYSE:HAL) Price Target Cut to $32.00 by Analysts at Susquehanna

Halliburton (NYSE:HAL) had its target price trimmed by Susquehanna from $35.00 to $32.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a positive rating on the oilfield services company’s stock.

A number of other equities research analysts have also weighed in on HAL. Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research report on Thursday, January 23rd. Benchmark reduced their price target on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Barclays lowered their price objective on Halliburton from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company decreased their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.95.

Halliburton Price Performance

Shares of NYSE HAL opened at $21.42 on Monday. The company has a market capitalization of $18.46 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 3.79 and a beta of 1.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. Halliburton has a 1-year low of $18.72 and a 1-year high of $39.37. The business has a 50-day moving average of $24.41 and a 200-day moving average of $27.23.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

Insiders Place Their Bets

In other news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret Katherine Banks sold 3,900 shares of Halliburton stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total value of $93,756.00. Following the completion of the transaction, the director now directly owns 10,551 shares in the company, valued at $253,646.04. This represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HAL. Mascagni Wealth Management Inc. purchased a new position in Halliburton during the fourth quarter valued at approximately $28,000. Horrell Capital Management Inc. acquired a new stake in Halliburton during the fourth quarter valued at $33,000. Sierra Ocean LLC acquired a new stake in Halliburton during the fourth quarter valued at $36,000. Modus Advisors LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at about $38,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton in the 4th quarter valued at approximately $39,000. 85.23% of the stock is owned by institutional investors and hedge funds.

About Halliburton

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.