Reassessing The Changing Outlook For Halliburton Company (HAL)

With over 5.04 million Halliburton Company (HAL) shares trading Monday and a closing price of $42.64 on the day, the dollar volume was approximately $215.09 million. The shares have shown a positive half year performance of 42.37% and its price on 09/18/23 gained nearly 1.26%. Currently, there are 901.00M common shares owned by the public and among those 895.13M 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: 30 analysts who have offered their price forecasts for HAL have a consensus price objective of $47.41. The analysts have set the share’s price value over the next 12 months at a high of $56.00 and a low of $34.00. The average price target is 10.08% above its recent price level and a downside to the estimated low will see the stock lose -25.41% over that period. But an upside of 23.86% will see the stock hit the forecast high price target while median target price for the stock is $48.00.

Insiders at the company have transacted a total of 106 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 1,278,633 shares. Insider sales of the common stock occurred on 79 occasions, with total insider shares sold totaling 1,252,723 shares.

Shares of Halliburton Company (NYSE: HAL) opened at $42.47, up $0.36 from a prior closing price of $42.11. However, the script later moved the day high at 42.81, up 1.26%. The company’s stock has a 5-day price change of 3.19% and 30.88% over the past three months. HAL shares are trading 8.36% year to date (YTD), with the 12-month market performance up to 45.03% higher. It has a 12-month low price of $23.30 and touched a high of $43.42 over the same period. HAL has an average intraday trading volume of 7.98 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 6.50%, 9.05%, and 19.07% respectively.

Institutional ownership of Halliburton Company (NYSE: HAL) shares accounts for 84.70% of the company’s 901.00M shares outstanding.

It has a market capitalization of $38.40B and a beta (3y monthly) value of 2.18. The stock’s trailing 12-month PE ratio is 15.73, while the earnings-per-share (ttm) stands at $2.71. The company has a PEG of 0.66 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.84% over the week and 1.98% over the month.

Analysts forecast that Halliburton Company (HAL) will achieve an EPS of $0.77 for the current quarter, $0.8 for the next quarter and $3.43 for 2024. The lowest estimate earnings-per-share for the quarter is $0.68 while analysts give the company a high EPS estimate of $0.8. Comparatively, EPS for the current quarter was $0.6 a year ago. Earnings per share for the fiscal year are expected to increase by 6.00%, and 11.89% over the next financial year. EPS should shrink at an annualized rate of 23.70% over the next five years, compared to 35.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 30 brokerage firm advisors rate Halliburton Company (HAL) as a “Strong Buy” at a consensus score of 1.70. Specifically, 24 Wall Street analysts polled rate the stock as a buy, while 2 of the 30 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the HAL, a number of firms have released research notes about the stock. CapitalOne stated their Overweight rating for the stock in a research note on June 07, 2023, with the firm’s price target at $41.