Halliburton (NYSE:HAL) Reaches New 52-Week Low - Should You Sell?

Halliburton (NYSE:HAL - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $22.66 and last traded at $22.83, with a volume of 6027741 shares. The stock had previously closed at $25.70.

Wall Street Analyst Weigh In

HAL has been the topic of several analyst reports. Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They set an "overweight" rating and a $36.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Halliburton from $39.00 to $34.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Stifel Nicolaus decreased their target price on shares of Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Benchmark reduced their price target on Halliburton from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.37.

Halliburton Price Performance

The company has a market capitalization of $17.32 billion, a P/E ratio of 7.05, a P/E/G ratio of 3.79 and a beta of 1.45. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $25.49 and a 200 day moving average price of $27.78.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, March 5th. Halliburton's payout ratio is 24.03%.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the transaction, the vice president now owns 77,784 shares of the company's stock, valued at $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Carre sold 51,179 shares of Halliburton stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.00, for a total value of $1,279,475.00. Following the completion of the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,177,525. This trade represents a 28.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

Large investors have recently modified their holdings of the stock. Mediolanum International Funds Ltd boosted its stake in shares of Halliburton by 48.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company's stock worth $1,931,000 after buying an additional 23,340 shares during the last quarter. Sei Investments Co. boosted its stake in Halliburton by 18.2% in the 4th quarter. Sei Investments Co. now owns 278,934 shares of the oilfield services company's stock worth $7,584,000 after purchasing an additional 42,876 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Halliburton by 3.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company's stock valued at $61,375,000 after acquiring an additional 80,567 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of Halliburton in the fourth quarter valued at $621,000. Finally, Massachusetts Wealth Management lifted its position in Halliburton by 180.9% during the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company's stock valued at $1,188,000 after purchasing an additional 28,125 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

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.