Halliburton (NYSE:HAL) Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada cut shares of Halliburton (NYSE:HAL) from an outperform rating to a sector perform rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $37.00 price target on the oilfield services company’s stock, down from their previous price target of $44.00.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lowered their price target on shares of Halliburton from $47.00 to $45.00 and set an overweight rating for the company in a report on Monday, July 22nd. Jefferies Financial Group lowered their price target on shares of Halliburton from $50.00 to $47.00 and set a buy rating for the company in a report on Monday, July 29th. The Goldman Sachs Group lowered their price target on shares of Halliburton from $47.00 to $40.00 and set a buy rating for the company in a report on Thursday, August 29th. Citigroup lowered their price target on shares of Halliburton from $50.00 to $45.00 and set a buy rating for the company in a report on Friday, June 28th. Finally, Piper Sandler lowered their price target on shares of Halliburton from $46.00 to $40.00 and set an overweight rating for the company in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $43.88.

Halliburton Stock Performance

Shares of HAL opened at $28.41 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.15 billion, a P/E ratio of 9.83, a PEG ratio of 0.95 and a beta of 1.89. The company has a 50-day moving average of $31.80 and a two-hundred day moving average of $35.00. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, research analysts predict that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. Halliburton’s dividend payout ratio (DPR) is 23.53%.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAL. 9258 Wealth Management LLC lifted its position in shares of Halliburton by 14.0% during the fourth quarter. 9258 Wealth Management LLC now owns 30,879 shares of the oilfield services company’s stock worth $1,116,000 after purchasing an additional 3,803 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Halliburton during the fourth quarter worth $285,000. Envestnet Portfolio Solutions Inc. raised its holdings in Halliburton by 7.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,924 shares of the oilfield services company’s stock valued at $648,000 after acquiring an additional 1,304 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Halliburton by 27.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,827 shares of the oilfield services company’s stock valued at $500,000 after acquiring an additional 2,952 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its holdings in Halliburton by 2.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 26,127 shares of the oilfield services company’s stock valued at $945,000 after acquiring an additional 733 shares in the last quarter. 85.23% of the stock is 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.