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

Halliburton (NYSE:HAL) had its price target dropped by analysts at Susquehanna from $35.00 to $32.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price objective indicates a potential upside of 51.09% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Evercore ISI reduced their price objective on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Piper Sandler started coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price target on shares of Halliburton in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. 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 price target of $36.95.

Halliburton Price Performance

HAL stock traded up $0.11 during trading on Monday, reaching $21.18. 2,437,302 shares of the company were exchanged, compared to its average volume of 9,590,831. Halliburton has a twelve month low of $18.72 and a twelve month high of $40.17. 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 has a market capitalization of $18.26 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 3.79 and a beta of 1.45. The company has a 50-day moving average of $24.67 and a two-hundred day moving average of $27.36.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the transaction, the vice president now directly owns 77,784 shares in the company, valued at approximately $1,913,486.40. The trade was a 11.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction 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 sale, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Trading of Halliburton

A number of institutional investors have recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new position in shares of Halliburton in the fourth quarter valued at approximately $28,000. Horrell Capital Management Inc. bought a new position in Halliburton in the 4th quarter valued at $33,000. Sierra Ocean LLC bought a new position in Halliburton in the 4th quarter valued at $36,000. Modus Advisors LLC purchased a new position in shares of Halliburton during the 4th quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Halliburton in the fourth quarter worth $39,000. 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.