Halliburton (NYSE:HAL) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Halliburton (NYSE:HAL) in a report released on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $36.00 price objective on the oilfield services company’s stock.

Other equities analysts have also issued reports about the stock. Bank of America reduced their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley decreased their price objective on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Susquehanna decreased their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group reduced their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.58.

Halliburton Stock Up 0.8 %

NYSE:HAL opened at $25.97 on Thursday. Halliburton has a 1 year low of $25.51 and a 1 year high of $41.56. The stock has a 50-day moving average price of $29.35 and a two-hundred day moving average price of $31.00. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.61 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the company posted $0.79 earnings per share. Halliburton’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that Halliburton will post 3 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.62%. Halliburton’s dividend payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

A number of large investors have recently added to or reduced their stakes in HAL. Country Trust Bank bought a new position in shares of Halliburton in the third quarter valued at about $36,000. Continuum Advisory LLC grew its stake in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter valued at about $44,000. Venturi Wealth Management LLC lifted its position in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after acquiring an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after acquiring an additional 393 shares during the period. 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.