Halliburton Company [HAL] stock Reiterated by Cowen analyst, price target now $24

Halliburton Company [NYSE: HAL] plunged by -$0.1 during the normal trading session on Friday and reaching a high of $16.07 during the day while it closed the day at $15.90. The company report on November 19, 2020 that Halliburton to Set Science-Based Targets to Reduce Emissions.

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Halliburton Company (NYSE: HAL) announced its commitment to set science-based targets to reduce greenhouse gas (GHG) emissions. The Company submitted its commitment letter to the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature. With this commitment, Halliburton will submit targets in 2021 with pending SBTi validation by 2022. Halliburton joins over 1000 global companies who have committed to set emissions reduction targets grounded in climate science through the SBTi.

“Our SBTi commitment reinforces our sustainability goals while helping our customers provide the world with affordable and reliable energy,” said Halliburton Chairman, President & CEO Jeff Miller. “Our industry plays an important role in reducing greenhouse gas emissions and provides us a great opportunity to do what we do best: innovate, collaborate, and execute to drive efficiencies and affect change.”.

Halliburton Company stock has also gained 10.96% of its value over the past 7 days. However, HAL stock has declined by -2.39% in the 3 months of the year. Over the past six months meanwhile, it has gained 33.95% and lost -35.02% year-on date.

The market cap for HAL stock reached $14.14 billion, with 882.00 million shares outstanding and 881.63 million shares in the current float. Compared to the average trading volume of 13.93M shares, HAL reached a trading volume of 7744787 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Halliburton Company [HAL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HAL shares is $16.03 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HAL stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Halliburton Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 20, 2020. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Market Perform. The new note on the price target was released on October 02, 2020, representing the official price target for Halliburton Company stock. Previously, the target price had yet another raise from $14 to $18, while BofA Securities kept a Buy rating on HAL stock.

The Average True Range (ATR) for Halliburton Company is set at 0.82, with the Price to Sales ratio for HAL stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 2.38. Price to Free Cash Flow for HAL in the course of the last twelve months was 12.15 with Quick ratio for the last quarter at 1.60.

HAL stock trade performance evaluation

Halliburton Company [HAL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.96. With this latest performance, HAL shares gained by 21.93% in over the last four-week period, additionally plugging by 33.95% over the last 6 months – not to mention a drop of -24.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HAL stock in for the last two-week period is set at 67.46, with the RSI for the last a single of trading hit 70.93, and the three-weeks RSI is set at 63.03 for Halliburton Company [HAL]. The present Moving Average for the last 50 days of trading for this stock 13.17, while it was recorded at 15.71 for the last single week of trading, and 12.83 for the last 200 days.

Halliburton Company [HAL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Halliburton Company [HAL] shares currently have an operating margin of +5.15 and a Gross Margin at +10.20. Halliburton Company’s Net Margin is presently recorded at -5.05.

Return on Total Capital for HAL is now 5.84, given the latest momentum, and Return on Invested Capital for the company is -5.77. Return on Equity for this stock declined to -12.90, with Return on Assets sitting at -4.40. When it comes to the capital structure of this company, Halliburton Company [HAL] has a Total Debt to Total Equity ratio set at 143.57. Additionally, HAL Total Debt to Total Capital is recorded at 58.94, with Total Debt to Total Assets ending up at 45.33. Long-Term Debt to Equity for the company is recorded at 140.60, with the Long-Term Debt to Total Capital now at 57.72.

Reflecting on the efficiency of the workforce at the company, Halliburton Company [HAL] managed to generate an average of -$20,564 per employee. Receivables Turnover for the company is 4.57 with a Total Asset Turnover recorded at a value of 0.87.Halliburton Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Halliburton Company [HAL] stock

With the latest financial reports released by the company, Halliburton Company posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HAL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Halliburton Company go to -7.82%.

Halliburton Company [HAL]: Insider Ownership positions

There are presently around $10,730 million, or 77.40% of HAL stock, in the hands of institutional investors. The top three institutional holders of HAL stocks are: VANGUARD GROUP INC with ownership of 99,500,093, which is approximately 2.517% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 59,393,897 shares of the stock with an approximate value of $944.36 million in HAL stocks shares; and BLACKROCK INC., currently with $942.87 million in HAL stock with ownership of nearly -1.885% of the company’s market capitalization.

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Positions in Halliburton Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 280 institutional holders increased their position in Halliburton Company [NYSE:HAL] by around 95,822,330 shares. Additionally, 339 investors decreased positions by around 57,508,815 shares, while 129 investors held positions by with 521,481,703 shares. The mentioned changes placed institutional holdings at 674,812,848 shares, according to the latest SEC report filing. HAL stock had 92 new institutional investments in for a total of 62,655,749 shares, while 70 institutional investors sold positions of 6,227,577 shares during the same period.

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