Halliburton (NYSE:HAL – Free Report) had its price objective reduced by JPMorgan Chase & Co. from $50.00 to $45.00 in a report released on Thursday morning, FlyOnTheWall reports.
A number of other research analysts have also recently weighed in on HAL. StockNews.com cut Halliburton from a buy rating to a hold rating in a report on Friday, May 26th. Capital One Financial began coverage on Halliburton in a research note on Wednesday, June 7th. They set an overweight rating and a $41.00 price objective on the stock. Benchmark restated a buy rating and set a $50.00 price objective on shares of Halliburton in a research note on Monday, April 3rd. Barclays reduced their price objective on Halliburton from $58.00 to $49.00 in a research note on Thursday. Finally, Susquehanna reduced their price objective on Halliburton from $57.00 to $45.00 in a research note on Monday, April 3rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $47.47.
Halliburton Price Performance
Shares of Halliburton stock opened at $36.94 on Thursday. Halliburton has a twelve month low of $23.30 and a twelve month high of $43.42. The stock has a market capitalization of $33.33 billion, a P/E ratio of 13.58, a PEG ratio of 0.52 and a beta of 2.13. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average price is $32.63 and its 200 day moving average price is $34.47.
Halliburton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, June 6th. Halliburton’s payout ratio is currently 23.53%.
Insider Transactions at Halliburton
In related news, CEO Jeffrey Allen Miller sold 271,283 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $30.25, for a total transaction of $8,206,310.75. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Charles Jr. Geer sold 12,065 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.60, for a total transaction of $369,189.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,817 shares in the company, valued at approximately $1,616,200.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey Allen Miller sold 271,283 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were 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 owns 829,230 shares in the company, valued at $25,084,207.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,623 shares of company stock worth $11,046,183. 0.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Halliburton
Large investors have recently modified their holdings of the company. Ossiam increased its stake in shares of Halliburton by 1,434.1% in the fourth quarter. Ossiam now owns 629 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 588 shares during the period. Luken Investment Analytics LLC bought a new stake in Halliburton during the 4th quarter valued at $31,000. Quarry LP acquired a new position in Halliburton during the 1st quarter worth $34,000. Beacon Capital Management LLC grew its stake in shares of Halliburton by 1,675.0% in the second quarter. Beacon Capital Management LLC now owns 1,065 shares of the oilfield services company’s stock worth $35,000 after purchasing an additional 1,005 shares in the last quarter. Finally, KB Financial Partners LLC acquired a new position in shares of Halliburton during the first quarter valued at $35,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
About Halliburton
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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