Halliburton Company (NYSE:HAL - Get Free Report)'s share price shot up 6.6% during trading on Tuesday . The company traded as high as $23.98 and last traded at $24.11. 3,569,509 shares traded hands during trading, a decline of 73% from the average session volume of 13,343,354 shares. The stock had previously closed at $22.61.
Wall Street Analyst Weigh In
HAL has been the subject of a number of analyst reports. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research note on Monday, July 28th. UBS Group raised their target price on Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Melius assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price on the stock. Barclays lowered their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.37.
Read Our Latest Report on HAL
Halliburton Price Performance
The firm has a market capitalization of $20.77 billion, a PE ratio of 11.39 and a beta of 1.10. The company has a 50-day moving average price of $21.88 and a 200-day moving average price of $21.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47.
Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Sell-side analysts forecast that Halliburton Company will post 2.64 EPS for the current year.
Halliburton Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 2.8%. Halliburton's payout ratio is 31.78%.
Hedge Funds Weigh In On Halliburton
Institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton in the second quarter valued at approximately $25,000. Mascagni Wealth Management Inc. acquired a new position in shares of Halliburton during the fourth quarter worth about $28,000. Stone House Investment Management LLC purchased a new stake in shares of Halliburton in the first quarter worth about $30,000. Rakuten Securities Inc. raised its holdings in shares of Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company's stock valued at $32,000 after buying an additional 1,341 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Halliburton by 111.9% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company's stock worth $35,000 after acquiring an additional 900 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.
About Halliburton
(
Get Free Report)
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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