Halliburton’s (HAL) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Halliburton (NYSE:HAL) in a research report released on Thursday morning,Benzinga reports. They currently have a $34.00 price objective on the oilfield services company’s stock.

HAL has been the topic of a number of other research reports. Benchmark cut their price target on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus decreased their target price on Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target on the stock. Finally, UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Trading Down 1.5 %

HAL opened at $28.05 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56. The business’s 50 day moving average is $28.89 and its two-hundred day moving average is $30.04. The firm has a market cap of $24.64 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 3.72 and a beta of 1.91.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. On average, research analysts predict that Halliburton will post 2.99 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently made changes to their positions in the stock. MidWestOne Financial Group Inc. grew its stake in shares of Halliburton by 4.4% in the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after purchasing an additional 359 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after buying an additional 390 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 393 shares during the period. Northwest Bank & Trust Co lifted its stake in Halliburton by 3.2% in the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after acquiring an additional 397 shares in the last quarter. Finally, HBW Advisory Services LLC boosted its position in Halliburton by 3.9% during the 4th quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock worth $286,000 after acquiring an additional 397 shares during the period. 85.23% of the stock is owned by institutional investors.

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.