Halliburton (NYSE:HAL) Stock Price Down 2.9% - What's Next?

Halliburton Company (NYSE:HAL - Get Free Report) shares traded down 2.9% during trading on Wednesday . The stock traded as low as $22.39 and last traded at $22.35. 4,576,015 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 11,223,009 shares. The stock had previously closed at $23.01.

Wall Street Analysts Forecast Growth

HAL has been the topic of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Halliburton from $37.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Susquehanna lowered their price objective on Halliburton from $32.00 to $30.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Barclays lowered their price target on Halliburton from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and an average target price of $33.58.

Halliburton Trading Down 3.2%

The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 3.57 and a beta of 1.14. The firm's 50 day moving average is $20.84 and its two-hundred day moving average is $24.46. The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 0.69.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Halliburton had a net margin of 9.31% and a return on equity of 24.01%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.28 billion. Equities analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.05%. Halliburton's dividend payout ratio is currently 28.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new stake in Halliburton in the fourth quarter worth approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton during the 1st quarter worth about $30,000. Horrell Capital Management Inc. bought a new stake in shares of Halliburton during the 4th quarter worth about $33,000. Sierra Ocean LLC bought a new stake in Halliburton during the fourth quarter worth approximately $36,000. Finally, Hexagon Capital Partners LLC boosted its position in Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after purchasing an additional 656 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

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.

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