Halliburton (NYSE:HAL) Price Target Cut to $32.00 by Analysts at Susquehanna

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

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company reduced their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Barclays lowered their target price on shares of Halliburton from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Finally, Benchmark cut their price target on Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average price target of $36.95.

Halliburton Trading Up 0.5 %

HAL stock traded up $0.11 during trading on Monday, hitting $21.18. The company had a trading volume of 2,437,302 shares, compared to its average volume of 9,590,831. The firm has a 50-day moving average price of $24.67 and a 200-day moving average price of $27.36. Halliburton has a 12 month low of $18.72 and a 12 month high of $40.17. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 3.79 and a beta of 1.45.

Insider Buying and Selling at Halliburton

In other news, CFO Eric Carre sold 51,179 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.00, for a total value of $1,279,475.00. Following the transaction, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,177,525. This represents a 28.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction 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. This represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock worth $5,321,170 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Halliburton

Hedge funds and other institutional investors have recently made changes to their positions in the business. HBW Advisory Services LLC grew its position in Halliburton by 3.9% during the fourth quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock worth $286,000 after buying an additional 397 shares in the last quarter. Blume Capital Management Inc. grew its holdings in shares of Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after purchasing an additional 400 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Halliburton by 3.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 12,776 shares of the oilfield services company’s stock worth $347,000 after purchasing an additional 453 shares during the period. Integrated Wealth Concepts LLC raised its stake in Halliburton by 0.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 84,675 shares of the oilfield services company’s stock valued at $2,302,000 after purchasing an additional 484 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Halliburton by 14.3% during the fourth quarter. UMB Bank n.a. now owns 4,036 shares of the oilfield services company’s stock worth $110,000 after purchasing an additional 505 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.