Halliburton (NYSE:HAL) Price Target Cut to $29.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its price target decreased by stock analysts at Barclays from $30.00 to $29.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s target price would indicate a potential upside of 14.47% from the stock’s previous close.

HAL has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company cut their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Piper Sandler initiated coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.37.

Halliburton Stock Performance

HAL stock traded up $0.27 during mid-day trading on Monday, hitting $25.34. 1,828,803 shares of the company were exchanged, compared to its average volume of 9,180,480. Halliburton has a 1-year low of $23.42 and a 1-year high of $41.56. The stock has a market capitalization of $21.99 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84. The business has a 50 day simple moving average of $25.99 and a 200-day simple moving average of $27.95. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Insider Activity at Halliburton

In other news, Director Margaret Katherine Banks sold 3,900 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total value of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares in the company, valued at approximately $253,646.04. The trade was a 26.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock valued at $5,321,170 in the last three months. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mascagni Wealth Management Inc. bought a new stake in shares of Halliburton during the 4th quarter worth $28,000. Horrell Capital Management Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new position in Halliburton in the fourth quarter worth $36,000. Modus Advisors LLC purchased a new position in Halliburton in the 4th quarter valued at approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Halliburton during the 4th quarter valued at about $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.