Barclays Cuts Halliburton (NYSE:HAL) Price Target to $29.00

Halliburton (NYSE:HAL - Get Free Report) had its price objective decreased by Barclays from $30.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the oilfield services company's stock. Barclays's price objective points to a potential upside of 44.01% from the company's previous close.

HAL has been the topic of a number of other research reports. Griffin Securities cut Halliburton from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Evercore ISI lowered their target price on Halliburton from $43.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, January 15th. Raymond James downgraded Halliburton from a "strong-buy" rating to a "market perform" rating in a research note on Monday, January 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $34.00 price objective on shares of Halliburton in a research note on Thursday, January 23rd. Finally, Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an "overweight" rating and a $36.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.37.

Halliburton Price Performance

Shares of HAL traded down $2.25 during trading hours on Monday, reaching $20.14. The company had a trading volume of 9,931,133 shares, compared to its average volume of 9,296,274. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 12-month low of $19.60 and a 12-month high of $41.56. The firm has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $27.86. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 3.79 and a beta of 1.45.

Insider Activity

In other news, Director Margaret Katherine Banks sold 3,900 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the sale, the director now owns 10,551 shares in the company, valued at approximately $253,646.04. The trade was a 26.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Carre sold 141,206 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the transaction, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock valued at $5,321,170 in the last ninety days. Company insiders own 0.61% of the company's stock.

Institutional Trading of Halliburton

Several large investors have recently added to or reduced their stakes in HAL. Norges Bank purchased a new stake in shares of Halliburton in the fourth quarter worth about $299,986,000. Franklin Resources Inc. raised its stake in shares of Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company's stock valued at $138,025,000 after purchasing an additional 3,203,224 shares during the period. Amundi raised its stake in shares of Halliburton by 22.2% during the fourth quarter. Amundi now owns 13,068,025 shares of the oilfield services company's stock valued at $353,242,000 after purchasing an additional 2,378,043 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Halliburton by 15.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after purchasing an additional 2,171,722 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Halliburton by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company's stock valued at $503,856,000 after purchasing an additional 1,748,763 shares during the period. 85.23% of the stock is currently 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.