Halliburton (NYSE:HAL) Reaches New 1-Year Low at $28.38

Halliburton (NYSE:HAL) shares reached a new 52-week low on Tuesday . The company traded as low as $28.38 and last traded at $28.47, with a volume of 45538 shares traded. The stock had previously closed at $28.68.

Analyst Ratings Changes

A number of equities research analysts have commented on HAL shares. Bank of America lowered their target price on Halliburton from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Susquehanna lowered their target price on Halliburton from $49.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, July 22nd. Morgan Stanley lowered their target price on Halliburton from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Evercore ISI lowered their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Piper Sandler lowered their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Halliburton Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The stock’s fifty day simple moving average is $32.12 and its 200-day simple moving average is $35.15. The stock has a market cap of $24.76 billion, a P/E ratio of 9.68, a PEG ratio of 0.97 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, research analysts anticipate that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.43%. Halliburton’s dividend payout ratio (DPR) is 23.53%.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Halliburton by 46.0% in the 1st 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 last quarter. Pacer Advisors Inc. increased its holdings 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 worth $460,462,000 after buying an additional 13,552,927 shares in the last quarter. Norges Bank acquired a new stake in shares of Halliburton during the fourth quarter worth approximately $400,070,000. LSV Asset Management increased its holdings in shares of Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after buying an additional 2,720,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 worth $3,952,805,000 after buying an additional 2,618,740 shares in the last quarter. Institutional investors and hedge funds 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.