Halliburton (NYSE:HAL) Price Target Raised to $44.00 at The Goldman Sachs Group

Halliburton (NYSE:HAL) had its price objective lifted by The Goldman Sachs Group from $40.00 to $44.00 in a research report released on Wednesday morning,MarketScreener reports. The firm currently has a buy rating on the oilfield services company’s stock.

Several other brokerages have also recently issued reports on HAL. Royal Bank Of Canada upped their price objective on shares of Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Argus boosted their target price on Halliburton from $31.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Stifel Nicolaus set a $36.00 price target on Halliburton in a research report on Thursday, January 22nd. Capital One Financial increased their price target on Halliburton from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Finally, Piper Sandler boosted their price objective on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Halliburton Price Performance

Shares of Halliburton stock traded down $0.05 on Wednesday, hitting $34.11. The company’s stock had a trading volume of 18,528,634 shares, compared to its average volume of 11,594,022. The company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73. Halliburton has a 1 year low of $18.72 and a 1 year high of $37.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The firm has a fifty day moving average price of $33.30 and a 200-day moving average price of $27.95.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, sell-side analysts anticipate that Halliburton will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, March 4th. Halliburton’s dividend payout ratio (DPR) is 45.03%.

Insider Transactions at Halliburton

In other Halliburton news, EVP Lawrence J. Pope sold 100,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the transaction, the executive vice president directly owned 419,800 shares in the company, valued at $13,538,550. This represents a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Van H. Beckwith sold 54,348 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. This represents a 13.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 328,148 shares of company stock worth $11,199,000 in the last ninety days. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vermillion Wealth Management Inc. grew its position in shares of Halliburton by 24.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after purchasing an additional 289 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Halliburton by 1.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after acquiring an additional 349 shares in the last quarter. Harbour Investments Inc. raised its stake in Halliburton by 7.3% during the fourth quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after acquiring an additional 361 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Halliburton by 3.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after acquiring an additional 365 shares during the last quarter. Finally, Clearstead Trust LLC boosted its stake in shares of Halliburton by 7.4% in the 3rd quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock valued at $132,000 after purchasing an additional 370 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.