Analysts Update Their Price Forecasts For Halliburton Company (HAL)

    SBUX Stock
    SBUX Stock

    SSgA Funds Management, Inc. has recently announced that it has increased stake in Halliburton Company (NYSE:HAL) by 0.77%. After grabbing 46.93 million shares, the institutional investor is now in possession of 0.36 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.34% having worth around $672.46 million. Moreover, T. Rowe Price Associates, Inc. (I.. increased its share by 24.06 million to have a control over 42.73 million shares. And Sanders Capital LLC raised its holdings to 1.17 million shares by acquiring 23.69 million shares or 2.70% of the stake.

    Halliburton Company (HAL) concluded trading on 08/27/20 at a closing price of $16.02, with 8.34 million shares of worth about $133.57 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 0.06% during that period and on Thursday the price saw a gain of about 1.33%. Currently the company’s common shares owned by public are about 877.00M shares, out of which, 876.12M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 31 analyst is covering the HAL stock and their offered price forecasts bring an average price target of $15.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $22.50 and could fall to a lowest price of $10.00. Analysts also issued an outlook of 2.50 for the Halliburton Company stock for next 12 months. The stock’s current price level is -3.16% below of average price target set by the analysts, while a dip to estimated low would result in loss of -60.2 for the stock. However, touching the estimated high of $22.50 would mean a gain of 28.8% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 84 times over the past 12 months. They bought 1,001,832 shares in 23 of the transactions. In 61 selling transactions, insiders dumped 137,875 shares.

    Dodge & Cox Funds – Stock Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Halliburton Company Dodge & Cox Funds – Stock Fund is currently holding 32.21 million shares of worth totaling $461.58 million. The company recently came buying 0.0 shares which brought its stake up to 3.67% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 13446.0 shares, after which its hold over company’s outstanding shares shrunk to 2.56%, leaving 22.49 million shares with the mutual fund that have a worth of about $322.21 million. Vanguard Mid Cap Index Fund, after selling 19.37 million shares, have now control over 2.21% of the stake in the company. It holds -0.15 million shares of worth $277.56 million.

    Halliburton Company (NYSE: HAL) started trading at $15.82, above $0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $16.02, or with a gain of 1.33%. Stock saw a price change of 0.06% in past 5 days and over the past one month there was a price change of 6.30%. Year-to-date (YTD), HAL shares are showing a performance of -34.53% which decreased to -11.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.25 but also hit the highest price of $25.47 during that period. While comparing its average daily trading volume of 17.60 million shares, we see that about 8.34 million changed hands on the day. The stock is currently trading 1.71% above its 20-day simple moving average (SMA20), while that difference is up 13.13% for SMA50 and it goes to 2.52% higher than SMA200.

    SSgA Funds Management, Inc. acquired 46.93 million shares of Halliburton Company having value of about $672.46 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.36 million shares in the company valued at close to $5752942.2, or have control over 0.77% stake in the company. Halliburton Company (NYSE: HAL) currently have 877.00M outstanding shares and institutions hold larger chunk of about 73.70% of that. Holding of mutual funds in the company is about 44.39% while other institutional holders and individual stake holders have control over 7.45% and 29.17% of the stake respectively.

    The stock has a current market capitalization of $14.31B and its 3Y-monthly beta is at 2.67. It has posted earnings per share of -$4.62 in the same period. It has Quick Ratio of 1.60 while making debt-to-equity ratio of 1.89. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HAL, volatility over the week remained 3.59% while standing at 3.37% over the month.

    Analysts are in expectations that Halliburton Company (HAL) stock would likely to be making an EPS of $0.08 in the current quarter, while forecast for next quarter ESPS is $0.09 and it is $0.49 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.11 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -170.50% while it is estimated to decrease by -5.51% in next year. EPS is likely to grow at an annualized rate of -10.83% for next 5-years, compared to annual growth of -18.30% made by the stock over the past 5-years.

    Analysts at 31 brokerage firms have issued recommendations for the Halliburton Company (HAL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 31 Wall Street analysts, 9 recommended a “Buy” rating, while 18 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on July 21, 2020 offering a Buy rating for the stock and assigned a target price range of between $14 and $18 to it. Coverage by Cowen stated Halliburton Company (HAL) stock as an Outperform in their note to investors on July 15, 2020, suggesting a price target of $17 for the stock. On May 29, 2020, Northland Capital Initiated their recommendations, while on May 29, 2020, Cowen Downgrade their ratings for the stock with a price target of $13. Stock get a Sell rating from UBS on May 26, 2020.


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