Halliburton (NYSE:HAL) Receives Average Rating of “Buy” from Analysts

Posted by Defense World Staff on Jun 7th, 2023

Halliburton (NYSE:HAL – Get Rating) has been assigned an average rating of “Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $48.24.

A number of equities analysts have recently issued reports on HAL shares. Susquehanna cut their price objective on Halliburton from $57.00 to $45.00 in a report on Monday, April 3rd. Citigroup lowered their target price on Halliburton from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 22nd. StockNews.com lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Benchmark reissued a “buy” rating and issued a $50.00 target price on shares of Halliburton in a research note on Monday, April 3rd. Finally, UBS Group assumed coverage on Halliburton in a research note on Wednesday, April 19th. They issued a “buy” rating and a $49.00 target price for the company.

Halliburton Price Performance

Halliburton stock opened at $31.23 on Wednesday. The business has a 50-day simple moving average of $31.37 and a 200 day simple moving average of $35.21. Halliburton has a 52 week low of $23.30 and a 52 week high of $43.99. The company has a quick ratio of 1.54, a current ratio of 2.14 and a debt-to-equity ratio of 0.94. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.40 and a beta of 2.13.

Halliburton (NYSE:HAL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Halliburton had a return on equity of 29.38% and a net margin of 9.04%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, research analysts forecast that Halliburton will post 3.13 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, June 6th. Halliburton’s payout ratio is 29.63%.

Insiders Place Their Bets

In other Halliburton news, CAO Charles Jr. Geer sold 12,065 shares of Halliburton stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.60, for a total value of $369,189.00. Following the completion of the sale, the chief accounting officer now owns 52,817 shares of the company’s stock, valued at approximately $1,616,200.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Charles Jr. Geer sold 12,065 shares of Halliburton stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.60, for a total value of $369,189.00. Following the completion of the sale, the chief accounting officer now owns 52,817 shares of the company’s stock, valued at $1,616,200.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 271,283 shares of Halliburton stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.25, for a total value of $8,206,310.75. Following the completion of the sale, the chief executive officer now directly owns 829,230 shares of the company’s stock, valued at approximately $25,084,207.50. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new stake in shares of Halliburton in the first quarter worth about $5,061,000. Level Four Advisory Services LLC increased its stake in Halliburton by 51.0% during the first quarter. Level Four Advisory Services LLC now owns 28,040 shares of the oilfield services company’s stock worth $887,000 after acquiring an additional 9,476 shares during the last quarter. Prelude Capital Management LLC increased its stake in Halliburton by 76.3% during the first quarter. Prelude Capital Management LLC now owns 24,500 shares of the oilfield services company’s stock worth $775,000 after acquiring an additional 10,607 shares during the last quarter. Macquarie Group Ltd. increased its stake in Halliburton by 62.4% during the first quarter. Macquarie Group Ltd. now owns 107,107 shares of the oilfield services company’s stock worth $3,273,000 after acquiring an additional 41,157 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Halliburton by 13.5% during the first quarter. ProShare Advisors LLC now owns 199,065 shares of the oilfield services company’s stock valued at $6,298,000 after buying an additional 23,708 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Company Profile

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.