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Is Halliburton Company (NYSE: HAL) Stock Worth Investing In for High Returns?

In the latest trading session, 1.17 million Halliburton Company (NYSE:HAL) shares changed hands as the company’s beta touched 2.18. With the company’s most recent per share price at $42.63 changed hands at -$0.01 or -0.02% at last look, the market valuation stands at $38.40B. HAL’s current price is a discount, trading about -1.85% off its 52-week high of $43.42. The share price had its 52-week low at $23.30, which suggests the last value was 45.34% up since then. When we look at Halliburton Company’s average trading volume, we note the 10-day average is 7.3 million shares, with the 3-month average coming to 7.90 million.

Analysts gave the Halliburton Company (HAL) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 2 recommended HAL as a Hold, 24 felt it is a Buy and 0 rated the stock as Underweight. Halliburton Company’s EPS for the current quarter is expected to be $0.77.

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Halliburton Company (NYSE:HAL) trade information

Instantly HAL was in red as seen in intraday trades today. With action 0.64%, the performance over the past five days has been green. The drop to weekly highs of 43.15 on Monday, 09/18/23 subtracted -0.02% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.34%, with the 5-day performance at 0.64% in the green. However, in the 30-day time frame, Halliburton Company (NYSE:HAL) is 8.20% up. Looking at the short shares, we see there were 22.35 million shares sold at short interest cover period of 3.42 days.

The consensus price target for the stock as assigned by Wall Street analysts is $47.41, meaning bulls need an upside of 10.08% from its recent market value. According to analyst projections, HAL’s forecast low is $34.00 with $56.00 as the target high. To hit the forecast high, the stock’s price needs a -31.36% plunge from its current level, while the stock would need to tank 20.24% for it to hit the projected low.

Halliburton Company (HAL) estimates and forecasts

Data shows that the Halliburton Company share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 38.91% over the past 6 months, a 41.40% in annual growth rate that is considerably higher than the industry average of 19.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Halliburton Company will rise 28.30%, while the growth in revenue is estimated to hit 11.10% for the next quarter. Year-over-year growth is forecast to reach 14.90% up from the last financial year.

Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $5.87 billion. 19 analysts are of the opinion that Halliburton Company’s revenue for the quarter ending Dec 2023 will be $5.98 billion. The company’s revenue for the corresponding quarters a year ago was $5.34 billion and $5.58 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.90%. The estimates for the next quarter sales put growth at 7.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 35.80%. The 2023 estimates are for Halliburton Company earnings to increase by 6.00%, but the outlook for the next 5-year period is at 23.70% per year.

HAL Dividends

Halliburton Company is expected to release its next quarterly earnings report on October 24. The 1.50% annual yield figure for the share gives it an annual dividend of 0.64. It is important to note, however, that the 1.50% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Halliburton Company (NYSE:HAL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.38% of Halliburton Company shares while 86.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.12%. There are 86.79% institutions holding the Halliburton Company stock share, with Capital World Investors the top institutional holder. As of Jun 29, 2023, the company held 12.73% of the shares, roughly 114.41 million HAL shares worth $4.87 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.04% or 99.16 million shares worth $4.22 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were American Balanced Fund and Washington Mutual Investors Fund. With 36.56 million shares estimated at $1.56 billion under it, the former controlled 4.07% of total outstanding shares. On the other hand, Washington Mutual Investors Fund held about 3.38% of the shares, roughly 30.4 million shares worth around $1.3 billion.

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