Capital Research & Management Co has recently announced that it has increased stake in Halliburton Co. (NYSE:HAL) by 5.82%. After grabbing 121.07 million shares, the institutional investor is now in possession of 6.66 million shares of the Energy Company. The new investment brought the stake of investor firm to 13.53% having worth around $4.48 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.38 million to have a control over 57.58 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 28.59 million shares by acquiring 34.96 million shares or 3.91% of the stake.
Halliburton Co. (HAL) concluded trading on 01/03/24 at a closing price of $36.57, with 6.83 million shares of worth about $249.79 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.15% during that period and on Wednesday the price saw a gain of about 1.25%. Currently the company’s common shares owned by public are about 902.00M shares, out of which, 891.78M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 30 analysts are covering the HAL stock and their offered price forecasts bring an average price target of $49.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $56.00 and could fall to a lowest price of $44.00. The stock’s current price level is 25.43% above of average price target set by the analysts, while a rise to estimated low would result in gain of 16.89% for the stock. However, touching the estimated high of $56.00 would mean a gain of 34.7% 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 69 times over the past 12 months. They bought 1,105,058 shares in 19 of the transactions. In 50 selling transactions, insiders dumped 1,085,617 shares.
American Balanced Fund, Washington Mutual Investors Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Halliburton Co. American Balanced Fund is currently holding 39.41 million shares of worth totaling $1.46 billion. The company recently came buying 2.7 million shares which brought its stake up to 4.40% of the company’s outstanding shares. Washington Mutual Investors Fund bought 2.57 million shares, after which its hold over company’s outstanding shares expand to 3.68%, leaving 32.97 million shares with the mutual fund that have a worth of about $1.22 billion. Vanguard Total Stock Market ETF, after buying 25.34 million shares, have now control over 2.83% of the stake in the company. It holds 31311.0 shares of worth $938.16 million.
Halliburton Co. (NYSE: HAL) started trading at $36.13, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 36.84, or with a gain of 1.25%. Stock saw a price change of -1.30% in past 5 days and over the past one month there was a price change of -3.02%. Year-to-date (YTD), HAL shares are showing a performance of 1.16% which decreased to -7.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $27.84 but also hit the highest price of $43.85 during that period. The average intraday trading volume for Halliburton Co. shares is 6.72 million. The stock is currently trading 1.81% above its 20-day simple moving average (SMA20), while that difference is down -2.91% for SMA50 and it goes to 1.26% higher than SMA200.
Capital Research & Management Co acquired 121.07 million shares of Halliburton Co. having value of about $4.48 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 6.66 million shares in the company valued at close to $243692057.55, or have control over 5.82% stake in the company. Halliburton Co. (NYSE: HAL) currently have 902.00M outstanding shares and institutions hold larger chunk of about 86.96% of that. Holding of mutual funds in the company is about 56.39% while other institutional holders and individual stake holders have control over 7.48% and 30.96% of the stake respectively.
The stock has a current market capitalization of $32.73B and its 3Y-monthly beta is at 2.02. PE ratio of stock for trailing 12 months is 12.58, while it has posted earnings per share of $2.91 in the same period. Its PEG reads 0.52 and has Quick Ratio of 1.53 while making debt-to-equity ratio of 0.97. 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 1.73% while standing at 2.27% over the month.
Analysts are in expectations that Halliburton Co. (HAL) stock would likely to be making an EPS of $0.8 in the current quarter, while forecast for next quarter EPS is $0.77 and it is $3.46 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.76 which is $0.81 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 $0.72 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 42.00% while it is estimated to increase by 13.17% in next year.
Analysts at 30 brokerage firms have issued recommendations for the Halliburton Co. (HAL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 30 Wall Street analysts, 22 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 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 CapitalOne on June 07, 2023 offering an Overweight rating for the stock and assigned a target price of $41 to it.
