Halliburton (NYSE:HAL) Hits New 12-Month Low – Here’s Why

Halliburton (NYSE:HAL) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.46 and last traded at $25.54, with a volume of 155061 shares. The stock had previously closed at $26.02.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HAL shares. Benchmark decreased their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus decreased their price objective on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, BMO Capital Markets decreased their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Halliburton Stock Down 1.5 %

The firm has a market cap of $22.51 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 3.60 and a beta of 1.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The business’s 50-day moving average is $28.35 and its 200-day moving average is $29.65.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. On average, equities analysts predict that Halliburton will post 2.67 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is presently 24.03%.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. Country Trust Bank acquired a new stake in Halliburton during the 3rd quarter worth approximately $36,000. Sierra Ocean LLC acquired a new stake in Halliburton during the 4th quarter worth approximately $36,000. Modus Advisors LLC acquired a new stake in Halliburton during the 4th quarter worth approximately $38,000. Continuum Advisory LLC raised its holdings in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Halliburton during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds 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.