Halliburton (NYSE:HAL) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Halliburton from “buy” to “hold,” though broader analyst sentiment remains a “Moderate Buy,” with an average price target of $43.24.
• Halliburton shares opened at $31.83, below their 50-day and 200-day moving averages. The stock has traded between $21.46 and $43.59 over the past year.
• The company exceeded quarterly expectations, reporting $0.55 in earnings per share and $5.71 billion in revenue, up 3.7% year over year. COO Jeffrey Slocum separately sold 52,572 shares under a pre-arranged trading plan.

Halliburton (NYSE:HAL - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the stock. Argus decreased their target price on shares of Halliburton from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. BMO Capital Markets set a $37.00 price target on shares of Halliburton in a research note on Wednesday, July 22nd. Piper Sandler upgraded shares of Halliburton from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Morgan Stanley reduced their target price on Halliburton from $41.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Finally, Wolfe Research began coverage on shares of Halliburton in a research note on Wednesday, July 8th. They set a "peer perform" rating for the company. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and an average target price of $43.24.

Halliburton Stock Performance

Shares of NYSE HAL opened at $31.83 on Friday. The company has a 50-day simple moving average of $34.06 and a 200-day simple moving average of $36.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market cap of $26.52 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. Halliburton has a 12 month low of $21.46 and a 12 month high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.50 billion. During the same period in the previous year, the company earned $0.55 EPS. Halliburton's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Halliburton will post 2.34 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jeffrey Slocum sold 52,572 shares of Halliburton stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Halliburton in the 2nd quarter valued at $26,000. Kilter Group LLC acquired a new stake in Halliburton during the 2nd quarter worth $26,000. Silvant Capital Management LLC acquired a new stake in Halliburton during the 2nd quarter worth $28,000. Matrix Trust Co bought a new position in Halliburton during the second quarter worth about $29,000. Finally, Hoey Investments Inc. bought a new position in Halliburton during the first quarter worth about $39,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Company Profile

Halliburton Company NYSE: HAL is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.

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