Halliburton (NYSE:HAL) Shares Gap Down to $20.79

Halliburton (NYSE:HAL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $20.74, but opened at $20.79. Halliburton shares last traded at $21.67, with a volume of 438,189 shares traded.

HAL has been the subject of several recent research reports. Bank of America dropped their target price on shares of Halliburton from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Citigroup cut their target price on Halliburton from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Cowen decreased their target price on Halliburton from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Zacks Investment Research downgraded shares of Halliburton from a “hold” rating to a “strong sell” rating and set a $23.00 price target on the stock. in a research report on Tuesday, November 5th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Halliburton in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.61.

The stock has a market cap of $18.43 billion, a P/E ratio of 11.28, a PEG ratio of 3.94 and a beta of 1.49. The company has a 50 day simple moving average of $20.32 and a 200 day simple moving average of $20.89. The company has a current ratio of 2.39, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, October 21st. The oilfield services company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. Halliburton had a net margin of 5.12% and a return on equity of 12.03%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Halliburton will post 1.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.72 annualized dividend and a yield of 3.36%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

In related news, Director William E. Albrecht acquired 8,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its stake in Halliburton by 96.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 1,353 shares of the oilfield services company’s stock valued at $26,000 after purchasing an additional 666 shares during the last quarter. Prestige Wealth Management Group LLC bought a new position in shares of Halliburton during the second quarter valued at $34,000. Meeder Asset Management Inc. raised its stake in shares of Halliburton by 179.8% during the third quarter. Meeder Asset Management Inc. now owns 1,796 shares of the oilfield services company’s stock valued at $34,000 after acquiring an additional 1,154 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Halliburton during the second quarter worth $45,000. Finally, Dougherty Wealth Advisers LLC acquired a new position in shares of Halliburton during the second quarter worth $45,000. 77.84% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile (NYSE:HAL)

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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