Capital Research & Management Co recently announced the acquisition of new stake in Halliburton Company (NYSE:HAL). The institutional investor has increased its shareholding in the Energy company by 0.24% to 63.52 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 7.00% valued currently at $2.31 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.24 million to 59.38 million shares. And Sanders Capital LLC has lifted its position by 3.00% or 0.62 million shares – to 21.37 million shares.
With over 14.29 million Halliburton Company (HAL) shares trading Monday and a closing price of $36.13 on the day, the dollar volume was approximately $516.38 million. The shares have shown a negative half year performance of -5.74% and its price on 11/21/22 lost nearly -1.58%. Currently, there are 908.00M common shares owned by the public and among those 905.37M 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: 27 analysts who have offered their price forecasts for HAL have a consensus price objective of $44.87. The analysts have set the share’s price value over the next 12 months at a high of $54.00 and a low of $33.00. The average price target is 19.03% above its recent price level and a downside to the estimated low will see the stock lose -9.48% over that period. But an upside of 33.09% will see the stock hit the forecast high price target while median target price for the stock is $45.00.
Insiders at the company have transacted a total of 110 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 628,775 shares. Insider sales of the common stock occurred on 82 occasions, with total insider shares sold totaling 830,103 shares.
The top 3 mutual fund holders in Halliburton Company are American Balanced Fund, SPDR Series – Energy Select Secto, and American Funds Growth Fund of Ame. American Balanced Fund owns 29.14 million shares of the company’s stock, all valued at over $1.06 billion. SPDR Series – Energy Select Secto bought 2788.0 shares to see its total holdings expand to 26.53 million shares valued at over $966.09 million and representing 2.92% of the shares outstanding. American Funds Growth Fund of Ame sold 23808.0 shares to bring its total holdings to over 25.24 million shares at a value of $919.31 million. American Funds Growth Fund of Ame now owns shares totaling to 2.78% of the shares outstanding.
Shares of Halliburton Company (NYSE: HAL) opened at $35.61, down -$1.1 from a prior closing price of $36.71. However, the script later moved the day high at 36.16, down -1.58%. The company’s stock has a 5-day price change of -5.05% and 15.73% over the past three months. HAL shares are trading 57.98% year to date (YTD), with the 12-month market performance up to 63.93% higher. It has a 12-month low price of $20.77 and touched a high of $43.99 over the same period. HAL has an average intraday trading volume of 10.66 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 -2.82%, 13.05%, and 8.02% respectively.
Institutional ownership of Halliburton Company (NYSE: HAL) shares accounts for 84.80% of the company’s 908.00M shares outstanding. Mutual fund holders own 54.82%, while other institutional holders and individual stakeholders account for 7.34% and 31.98% respectively.
It has a market capitalization of $33.49B and a beta (3y monthly) value of 2.25. The stock’s trailing 12-month PE ratio is 18.72, while the earnings-per-share (ttm) stands at $1.93. The company has a PEG of 0.35 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.40% over the week and 3.96% over the month.
Analysts forecast that Halliburton Company (HAL) will achieve an EPS of $0.65 for the current quarter, $0.63 for the next quarter and $2.89 for 2023. The lowest estimate earnings-per-share for the quarter is $0.57 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 148.90%, and 39.10% over the next financial year. EPS should grow at an annualized rate of 52.95% over the next five years, compared to 17.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Halliburton Company (HAL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 3 of the 27 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. Wells Fargo stated their Overweight rating for the stock in a research note on October 26, 2022, with the firm’s price target at $52. Jefferies coverage for the Halliburton Company (HAL) stock in a research note released on October 19, 2022 offered a Buy rating with a price target of $40. Piper Sandler was of a view on October 07, 2022 that the stock is Overweight, while HSBC Securities gave the stock Buy rating on April 27, 2022, issuing a price target of $36.60- $41.60. Stephens on their part issued Equal-Weight rating on April 20, 2022.