Halliburton (NYSE:HAL) Hits New 52-Week Low – Here’s Why

Halliburton (NYSE:HAL) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.15 and last traded at $24.99, with a volume of 6599871 shares. The stock had previously closed at $26.37.

Wall Street Analyst Weigh In

HAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Monday, December 9th. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Morgan Stanley lowered their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Trading Down 5.3 %

The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The firm has a market cap of $21.68 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 3.79 and a beta of 1.89. The business’s 50 day moving average is $27.03 and its 200-day moving average is $28.73.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.72%. Halliburton’s payout ratio is 24.03%.

Insider Activity

In other news, CFO Eric Carre sold 141,206 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. acquired a new position in shares of Halliburton during the fourth quarter valued at $33,000. Sierra Ocean LLC acquired a new position in shares of Halliburton during the fourth quarter worth approximately $36,000. Modus Advisors LLC bought a new position in Halliburton in the 4th quarter worth approximately $38,000. Vermillion Wealth Management Inc. acquired a new stake in Halliburton in the 4th quarter valued at approximately $39,000. Finally, Continuum Advisory LLC raised its stake in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after acquiring an additional 698 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.