Halliburton (NYSE:HAL) Reaches New 12-Month Low - Here's Why

Halliburton (NYSE:HAL - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $27.51 and last traded at $27.65, with a volume of 2170402 shares changing hands. The stock had previously closed at $27.81.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered 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. Benchmark reiterated a "buy" rating and set a $42.00 price target on shares of Halliburton in a report on Monday, July 22nd. Jefferies Financial Group reduced their price target on Halliburton from $47.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. Citigroup reduced their price target on Halliburton from $50.00 to $45.00 and set a "buy" rating for the company in a report on Friday, June 28th. Finally, Stifel Nicolaus reduced their price target on Halliburton from $45.00 to $42.00 and set a "buy" rating for the company in a report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Halliburton presently has an average rating of "Moderate Buy" and an average price target of $41.74.

Halliburton Trading Up 0.2 %

The company has a market capitalization of $24.66 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The business has a fifty day moving average price of $29.82 and a 200 day moving average price of $33.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. Halliburton's dividend payout ratio (DPR) is presently 23.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capital World Investors lifted its holdings in shares of Halliburton by 0.3% during the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company's stock worth $4,806,431,000 after buying an additional 377,500 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Halliburton by 2.7% during the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company's stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company's stock valued at $2,408,171,000 after purchasing an additional 19,237,784 shares during the period. Pacer Advisors Inc. increased its position in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company's stock valued at $460,462,000 after purchasing an additional 13,552,927 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company's stock valued at $340,752,000 after purchasing an additional 1,681,620 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.