Halliburton (NYSE:HAL) Price Target Cut to $42.00 by Analysts at Susquehanna

Halliburton (NYSE:HAL) had its price target decreased by analysts at Susquehanna from $45.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price target would indicate a potential upside of 24.21% from the company’s current price.

HAL has been the subject of several other reports. Zephirin Group lifted their target price on shares of Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, April 22nd. Capital One Financial raised their price target on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Piper Sandler lifted their price target on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Finally, Jefferies Financial Group restated a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.18.

Halliburton Stock Up 2.5%

NYSE:HAL opened at $33.81 on Wednesday. The firm’s 50-day moving average price is $38.63 and its 200-day moving average price is $35.94. The company has a market capitalization of $28.25 billion, a PE ratio of 18.58, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton has a 1-year low of $20.17 and a 1-year high of $43.59.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. Halliburton’s revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. On average, equities analysts predict that Halliburton will post 2.34 EPS for the current fiscal year.

Insider Activity

In related news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares in the company, valued at $3,927,732.07. The trade was a 17.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 258,255 shares of company stock valued at $10,550,535 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently bought and sold shares of HAL. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares in the last quarter. Norges Bank purchased a new position in shares of Halliburton in the fourth quarter valued at about $169,304,000. Holocene Advisors LP bought a new position in shares of Halliburton in the third quarter worth about $147,315,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Halliburton by 12,413.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,163,259 shares of the oilfield services company’s stock worth $162,325,000 after purchasing an additional 4,129,988 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

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.