Capital Research & Management Co recently announced the acquisition of new stake in Halliburton Co. (NYSE:HAL). The institutional investor has increased its shareholding in the Energy company by 5.82% to 121.07 million shares with purchase of 6.66 million shares. This fresh investment now brings its stake to 13.53% valued currently at $4.48 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.38 million to 57.58 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 449.55% or 28.59 million shares – to 34.96 million shares.
With over 3.59 million Halliburton Co. (HAL) shares trading Tuesday and a closing price of $37.05 on the day, the dollar volume was approximately $133.16 million. The shares have shown a positive half year performance of 14.28% and its price on 12/26/23 gained nearly 1.26%. Currently, there are 902.00M common shares owned by the public and among those 891.78M shares have been available to trade.
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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 $49.04. The analysts have set the share’s price value over the next 12 months at a high of $56.00 and a low of $44.00. The average price target is 24.45% above its recent price level and an upside to the estimated low will see the stock gain 15.8% over that period. But an upside of 33.84% will see the stock hit the forecast high price target while median target price for the stock is $49.00.
Insiders at the company have transacted a total of 78 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 1,299,679 shares. Insider sales of the common stock occurred on 50 occasions, with total insider shares sold totaling 1,085,617 shares.
The top 3 mutual fund holders in Halliburton Co. are American Balanced Fund, Washington Mutual Investors Fund, and Vanguard Total Stock Market ETF. American Balanced Fund owns 39.41 million shares of the company’s stock, all valued at over $1.46 billion. The company bought an additional 2.7 million shares recently to bring their total holdings to about 4.40% of the shares outstanding. Washington Mutual Investors Fund bought 2.57 million shares to see its total holdings expand to 32.97 million shares valued at over $1.22 billion and representing 3.68% of the shares outstanding. Vanguard Total Stock Market ETF bought 31311.0 shares to bring its total holdings to over 25.34 million shares at a value of $938.16 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.83% of the shares outstanding.
Shares of Halliburton Co. (NYSE: HAL) opened at $37.12, up $0.53 from a prior closing price of $36.59. However, the script later moved the day high at 37.40, up 1.26%. The company’s stock has a 5-day price change of 2.32% and -9.17% over the past three months. HAL shares are trading -5.84% year to date (YTD), with the 12-month market performance down to -1.31% lower. It has a 12-month low price of $27.84 and touched a high of $43.85 over the same period. HAL has an average intraday trading volume of 6.83 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 2.42%, -3.28%, and 2.87% respectively.
Institutional ownership of Halliburton Co. (NYSE: HAL) shares accounts for 86.99% of the company’s 902.00M shares outstanding. Mutual fund holders own 57.14%, while other institutional holders and individual stakeholders account for 7.48% and 30.37% respectively.
It has a market capitalization of $33.16B and a beta (3y monthly) value of 2.04. The stock’s trailing 12-month PE ratio is 12.74, while the earnings-per-share (ttm) stands at $2.91. The company has a PEG of 0.53 and a Quick Ratio of 1.53 with the debt-to-equity ratio at 0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.91% over the week and 2.53% over the month.
Analysts forecast that Halliburton Co. (HAL) will achieve an EPS of $0.72 for the current quarter, $0.69 for the next quarter and $3.14 for 2024. The lowest estimate earnings-per-share for the quarter is $0.69 while analysts give the company a high EPS estimate of $0.73. Comparatively, EPS for the current quarter was $0.72 a year ago. Earnings per share for the fiscal year are expected to increase by 41.99%, and 13.19% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 30 brokerage firm advisors rate Halliburton Co. (HAL) as a “Strong Buy” at a consensus score of 1.40. Specifically, 22 Wall Street analysts polled rate the stock as a buy, while 4 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.
