Barclays Cuts Halliburton (NYSE:HAL) Price Target to $29.00

Halliburton (NYSE:HAL) had its price target trimmed by Barclays from $30.00 to $29.00 in a report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. Benchmark decreased their price objective on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group lowered their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company reduced their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Evercore ISI dropped their price target on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Finally, Griffin Securities lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.37.

Halliburton Trading Up 0.7 %

HAL opened at $25.73 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. Halliburton has a fifty-two week low of $23.42 and a fifty-two week high of $41.56. The company’s 50 day moving average price is $25.76 and its two-hundred day moving average price is $27.90. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.64%. Halliburton’s payout ratio is 24.03%.

Insider Activity

In other news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total value of $3,689,712.78. Following the transaction, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy Mckeon sold 10,497 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the sale, the vice president now owns 77,784 shares of the company’s stock, valued at $1,913,486.40. This trade represents a 11.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock worth $5,321,170 over the last three months. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. MidWestOne Financial Group Inc. boosted its position in Halliburton by 4.4% in the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after purchasing an additional 359 shares during the last quarter. Public Sector Pension Investment Board grew its position in Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after buying an additional 390 shares during the period. HBW Advisory Services LLC increased its holdings in Halliburton by 3.9% during the fourth quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock worth $286,000 after buying an additional 397 shares during the last quarter. Blume Capital Management Inc. raised its position in Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after acquiring an additional 400 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in Halliburton by 3.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 12,776 shares of the oilfield services company’s stock valued at $347,000 after acquiring an additional 453 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.