SSgA Funds Management, Inc. recently announced the acquisition of new stake in Halliburton Company (NYSE:HAL). The institutional investor has increased its shareholding in the Energy company by 0.77% to 46.93 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 5.34% valued currently at $672.46 million. In addition, T. Rowe Price Associates, Inc. (I.. raised its holdings by 24.06 million to 42.73 million shares. And Sanders Capital LLC has lifted its position by 5.20% or 1.17 million shares – to 23.69 million shares.
With over 9.79 million Halliburton Company (HAL) shares trading Monday and a closing price of $16.18 on the day, the dollar volume was approximately $158.46 million. The shares have shown a negative weekly performance of -0.68% and its price on 08/31/20 lost nearly -0.55%. Currently, there are 877.00M common shares owned by the public and among those 876.12M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for HAL have a consensus price objective of $15.50. The analysts have set the share’s price value over the next 12 months at a high of $22.50 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Halliburton Company stock is 2.50 for the next 12 months. The average price target is -3.52% below its last price level and a downside to the estimated low will see the stock lose -61.8% over that period. But an upside of 28.09% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.
Insiders at the company have transacted a total of 84 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 1,001,832 shares. Insider sales of the common stock occurred on 61 occasions, with total insider shares sold totaling 137,875 shares.
The top 3 mutual fund holders in Halliburton Company are Dodge & Cox Funds – Stock Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. Dodge & Cox Funds – Stock Fund owns 32.21 million shares of the company’s stock, all valued at over $461.58 million. Vanguard Total Stock Market Index sold 13446.0 shares to see its total holdings shrink to 22.49 million shares valued at over $322.21 million and representing 2.56% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.15 million shares to bring its total holdings to over 19.37 million shares at a value of $277.56 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.21% of the shares outstanding.
Shares of Halliburton Company (NYSE: HAL) opened at $16.20, down -$0.07 from a prior closing price of $16.27. However, the script later closed the day at $16.18, down -0.55%. The company’s stock has a 5-day price change of -0.68% and 27.50% over the past three months. HAL shares are trading -33.88% year to date (YTD), with the 12-month market performance down to -14.12% lower. It has a 12-month low price of $4.25 and touched a high of $25.47 over the same period. Currently, 9.79 million shares have been traded, compared to an average intraday trading volume of 17.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.67%, 13.28%, and 3.88% respectively.
Institutional ownership of Halliburton Company (NYSE: HAL) shares accounts for 73.70% of the company’s 877.00M shares outstanding. Mutual fund holders own 44.40%, while other institutional holders and individual stakeholders account for 7.45% and 29.16% respectively.
It has a market capitalization of $14.00B and a beta (3y monthly) value of 2.64. The earnings-per-share (ttm) stands at -$4.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.99% over the week and 3.36% over the month.
Analysts forecast that Halliburton Company (HAL) will achieve an EPS of $0.08 for the current quarter, $0.09 for the next quarter and $0.51 for 2021. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to decrease by -170.50%, and -3.58% over the next financial year. EPS should grow at an annualized rate of -10.83% over the next five years, compared to -18.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate Halliburton Company (HAL) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 18 of the 31 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the HAL, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on July 21, 2020, with the firm’s price target at $14-$18. Cowen coverage for the Halliburton Company (HAL) stock in a research note released on July 15, 2020 offered a Outperform rating with a price target of $17. Northland Capital was of a view on May 29, 2020 that the stock is Market Perform, while Cowen gave the stock Market Perform rating on May 29, 2020, issuing a price target of $13. UBS on their part issued Sell rating on May 26, 2020.