Susquehanna Cuts Halliburton (NYSE:HAL) Price Target to $32.00

Halliburton (NYSE:HAL) had its target price decreased by stock analysts at Susquehanna from $35.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price objective would suggest a potential upside of 50.50% from the company’s previous close.

Other research analysts have also issued reports about the stock. Benchmark cut their target price on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Evercore ISI decreased their price objective on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Piper Sandler initiated coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Halliburton in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.95.

Halliburton Price Performance

Shares of HAL opened at $21.26 on Monday. The firm has a market cap of $18.33 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45. Halliburton has a 52-week low of $18.72 and a 52-week high of $39.37. The business’s 50 day moving average price is $24.48 and its two-hundred day moving average price is $27.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05.

Insider Transactions at Halliburton

In other Halliburton news, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total transaction of $258,226.20. Following the completion of the transaction, the vice president now directly owns 77,784 shares of the company’s stock, valued at approximately $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric Carre sold 51,179 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.00, for a total value of $1,279,475.00. Following the completion of the sale, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,177,525. The trade was a 28.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,782 shares of company stock worth $5,321,170 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Large investors have recently added to or reduced their stakes in the company. CX Institutional boosted its position in Halliburton by 76.9% during the first quarter. CX Institutional now owns 9,960 shares of the oilfield services company’s stock worth $253,000 after purchasing an additional 4,330 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Halliburton by 36.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 715,212 shares of the oilfield services company’s stock valued at $18,145,000 after buying an additional 191,381 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Halliburton by 843.0% in the 1st quarter. SG Americas Securities LLC now owns 294,309 shares of the oilfield services company’s stock worth $7,467,000 after buying an additional 263,099 shares during the period. Central Valley Advisors LLC grew its stake in Halliburton by 7.3% in the 1st quarter. Central Valley Advisors LLC now owns 54,716 shares of the oilfield services company’s stock valued at $1,388,000 after buying an additional 3,727 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Halliburton by 33.6% during the 1st quarter. GAMMA Investing LLC now owns 11,619 shares of the oilfield services company’s stock valued at $295,000 after acquiring an additional 2,925 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.