The Benchmark Company slashes price target on Halliburton Company [HAL] – find out why.

Halliburton Company [NYSE: HAL] gained 2.10% or 0.76 points to close at $36.99 with a heavy trading volume of 8754055 shares. The company report on February 24, 2023 that Halliburton Announces Annual Shareholders’ Meeting.

Halliburton Company (NYSE: HAL) announced today that its annual meeting of shareholders will take place on May 17, 2023, at 9 a.m. CDT. The Company will hold the meeting at its headquarters located at 3000 N. Sam Houston Parkway East, Houston, Texas. The record date for determination of shareholders entitled to vote at the meeting is March 20, 2023.

It opened the trading session at $35.94, the shares rose to $37.08 and dropped to $35.28, the range by which the price of stock traded the whole day. The daily chart for HAL points out that the company has recorded 16.84% gains over the past six months. However, it is still -58.76% lower than its most recent low trading price.

If we look at the average trading volume of 8.96M shares, HAL reached to a volume of 8754055 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $48.88 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 1.80. 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.

The Benchmark Company have made an estimate for Halliburton Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2023. The new note on the price target was released on January 12, 2023, representing the official price target for Halliburton Company stock. Previously, the target price had yet another raise to $53, while Raymond James analysts kept a Strong Buy rating on HAL stock.

The Average True Range (ATR) for Halliburton Company is set at 1.47, with the Price to Sales ratio for HAL stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 4.21, with the Price to Cash per share for the same quarter was set at 2.65. Price to Free Cash Flow for HAL in the course of the last twelve months was 41.15 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for HAL stock

Halliburton Company [HAL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.12. With this latest performance, HAL shares dropped by -7.59% in over the last four-week period, additionally plugging by 16.84% over the last 6 months – not to mention a rise of 16.76% 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 43.06, with the RSI for the last a single of trading hit 42.26, and the three-weeks RSI is set at 45.08 for Halliburton Company [HAL]. The present Moving Average for the last 50 days of trading for this stock 38.96, while it was recorded at 36.37 for the last single week of trading, and 34.22 for the last 200 days.

Halliburton Company [HAL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Halliburton Company [HAL] shares currently have an operating margin of +14.80 and a Gross Margin at +16.32. Halliburton Company’s Net Margin is presently recorded at +7.74.

Return on Equity for this stock inclined to 21.44, with Return on Assets sitting at 6.90.

Halliburton Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.00.

Halliburton Company [HAL]: An earnings per share (EPS) analysis

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 40.45%.

An analysis of insider ownership at Halliburton Company [HAL]

There are presently around $28,249 million, or 84.70% of HAL stock, in the hands of institutional investors. The top three institutional holders of HAL stocks are: VANGUARD GROUP INC with ownership of 99,631,311, which is approximately 1.003% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 81,715,438 shares of the stock with an approximate value of $3.02 billion in HAL stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.37 billion in HAL stock with ownership of nearly 1.073% of the company’s market capitalization.

Positions in Halliburton Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 541 institutional holders increased their position in Halliburton Company [NYSE:HAL] by around 64,407,086 shares. Additionally, 349 investors decreased positions by around 59,823,868 shares, while 131 investors held positions by with 639,464,546 shares. The mentioned changes placed institutional holdings at 763,695,500 shares, according to the latest SEC report filing. HAL stock had 206 new institutional investments in for a total of 11,409,217 shares, while 75 institutional investors sold positions of 9,051,163 shares during the same period.