Halliburton (NYSE:HAL) Price Target Cut to $42.00 by Analysts at Susquehanna

Halliburton (NYSE:HAL) had its target price lowered by Susquehanna from $45.00 to $42.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. The firm currently has a positive rating on the oilfield services company’s stock.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Citigroup upped their price objective on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $55.00 in a research report on Thursday, May 7th. UBS Group raised their price objective on Halliburton from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Griffin Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.18.

Halliburton Trading Up 3.3%

HAL stock opened at $34.92 on Wednesday. The company has a market capitalization of $29.17 billion, a PE ratio of 19.19, a P/E/G ratio of 1.46 and a beta of 0.71. The firm’s 50-day moving average is $38.53 and its 200 day moving average is $35.99. Halliburton has a 12 month low of $20.17 and a 12 month high of $43.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, research analysts anticipate that Halliburton will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is currently 37.36%.

Insider Buying and Selling

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director directly owned 15,250 shares of the company’s stock, valued at $636,230. This trade represents a 28.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the sale, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 258,255 shares of company stock worth $10,550,535 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its stake in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. State Street Corp increased its holdings in Halliburton by 1.7% in the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Halliburton by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Finally, Sanders Capital LLC raised its position in Halliburton by 9.4% in the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after purchasing an additional 2,238,983 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton landed an integrated contract to develop the Bin Umar and Sindbad oil fields in Iraq, a deal that may increase oil and gas output and strengthen its international growth story. Halliburton Lands Key Iraq Oilfield Deal to Boost Production
• Positive Sentiment: Options activity spiked, with call volume running well above normal, which often signals rising trader confidence and speculation on further gains.
• Positive Sentiment: Susquehanna kept a positive view on HAL even while trimming its price target to $42, implying analysts still see meaningful upside from current levels.
• Neutral Sentiment: UBS raised its price target but maintained a Neutral rating, reflecting some valuation support without a stronger bullish call. UBS Lifts Price Target on Halliburton (HAL), Reaffirms Neutral Rating
• Neutral Sentiment: Wolfe Research initiated coverage with a Peer Perform rating, signaling a wait-and-see stance on Halliburton’s near-term outlook. Wolfe Research bullish on SLB and BKR, sees selective oil services cycle ahead
• Negative Sentiment: RBC Capital’s new Buy recommendation is supportive, but broader analyst coverage remains mixed, which may limit how much the stock can rally on sentiment alone. Halliburton (HAL) Gets a Buy from RBC Capital

Halliburton Company Profile

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.