Barclays Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

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

Other analysts have also issued reports about the stock. Piper Sandler assumed coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI reduced their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Finally, UBS Group lowered Halliburton from a “buy” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $34.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus target price of $37.37.

Halliburton Price Performance

Shares of NYSE HAL traded up $0.27 during midday trading on Monday, reaching $25.34. 1,828,803 shares of the stock traded hands, compared to its average volume of 9,180,480. The stock has a market capitalization of $21.99 billion, a PE ratio of 8.97, a P/E/G ratio of 3.79 and a beta of 1.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The company’s 50 day moving average is $25.99 and its 200 day moving average is $27.95. Halliburton has a one year low of $23.42 and a one year high of $41.56.

Insider Transactions at Halliburton

In related news, Director Margaret Katherine Banks sold 3,900 shares of Halliburton stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,782 shares of company stock worth $5,321,170. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several institutional investors have recently added to or reduced their stakes in HAL. Mascagni Wealth Management Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at $28,000. 111 Capital acquired a new stake in shares of Halliburton in the 4th quarter worth $483,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Halliburton by 18.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 119,424 shares of the oilfield services company’s stock valued at $3,247,000 after purchasing an additional 18,245 shares during the last quarter. Hara Capital LLC grew its position in Halliburton by 212.4% in the fourth quarter. Hara Capital LLC now owns 54,284 shares of the oilfield services company’s stock worth $1,476,000 after acquiring an additional 36,907 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Halliburton in the fourth quarter valued at about $33,832,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.