Analysts Set Halliburton (NYSE:HAL) Price Target at $40.79

Halliburton (NYSE:HAL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $40.79.

Several analysts recently weighed in on the company. Benchmark restated a "buy" rating and set a $40.00 price target on shares of Halliburton in a report on Friday, November 8th. TD Cowen lowered their target price on shares of Halliburton from $47.00 to $45.00 and set a "buy" rating for the company in a report on Monday, July 22nd. Piper Sandler cut their price target on shares of Halliburton from $46.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price objective on shares of Halliburton from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their target price on Halliburton from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAL. Cary Street Partners Asset Management LLC grew its holdings in Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company's stock worth $4,563,000 after purchasing an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Halliburton by 146.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company's stock valued at $28,455,000 after buying an additional 500,000 shares in the last quarter. Mackenzie Financial Corp raised its stake in Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company's stock valued at $6,316,000 after buying an additional 95,864 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in Halliburton in the third quarter worth about $1,181,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Halliburton by 319.0% during the first quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company's stock worth $1,385,000 after acquiring an additional 28,137 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Halliburton Stock Performance

HAL stock remained flat at $30.19 during trading on Wednesday. 11,046,468 shares of the company's stock traded hands, compared to its average volume of 8,073,160. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The firm has a market capitalization of $26.52 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.70 and a beta of 1.89. The firm has a 50 day simple moving average of $29.09 and a two-hundred day simple moving average of $32.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the business posted $0.79 EPS. The firm's revenue was down 1.8% on a year-over-year basis. Research analysts forecast that Halliburton will post 3.02 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton's payout ratio is 23.69%.

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.