A company insider recently sold 20,000 shares of Halliburton Company [HAL]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Halliburton Company shares valued at $854,600 were sold by Rainey Joe D on Jun 08. At $42.73 per share, Rainey Joe D sold 20,000 shares. The insider’s holdings dropped to 310,014 shares worth approximately $8.45 million following the completion of this transaction.

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Also, Pope Lawrence J sold 10,000 shares, netting a total of over 409,500 in proceeds. Following the sale of shares at $40.95 each, the insider now holds 273,342 shares.

Before that, Pope Lawrence J had sold 10,000 shares from its account. In a trade valued at $399,500, the EVP Administration & CHRO traded Halliburton Company shares for $39.95 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $7.73 million.

As published in a research note from HSBC Securities on April 27, 2022, Halliburton Company [HAL] has been rated up from a Hold to a Buy and the price target has been revised to $41.60 from $36.60. This represents a 34.45% premium over Thursday’s closing price. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid April. As of January 25, 2022, Susquehanna has reiterated its “Positive” rating for HAL. Earlier on January 25, 2022, Stephens resumed its rating. Their recommendation was “an Overweight” for HAL stock.

Analyzing HAL’s Price Performance

On Thursday, Halliburton Company [NYSE: HAL] plunged -4.08% to $27.27. The stock’s lowest price that day was $27.14, but it reached a high of $28.355 in the same session. During the last five days, there has been a drop of approximately -4.78%. Over the course of the year, Halliburton Company shares have jumped approximately 19.24%. Shares of the company reached a 52-week high of $43.99 on 06/08/22 and a 52-week low of $23.01 on 01/03/22. A 50-day SMA is recorded $33.05, while a 200-day SMA reached $31.16. Nevertheless, trading volume fell to 11.02 million shares from 11.01 million shares the previous day.

Support And Resistance Levels for Halliburton Company (HAL)

According to the 24-hour chart, there is a support level at 26.82, which, if violated, would cause prices to drop to 26.37. In the upper region, resistance lies at 28.04. The next price resistance is at 28.80. RSI (Relative Strength Index) is 38.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.40, which suggests the price will decrease in the coming days. Percent R is at 95.42%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Halliburton Company subject to short interest?

Stocks of Halliburton Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.69 million shares to 18.23 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 18.92 million shares. A decline of -3.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.42 of the overall float, the days-to-cover ratio (short ratio) decline to 1.42.

Which companies own the most shares of Halliburton Company (HAL)?

According to The Vanguard Group, Inc. filings, the company currently owns 96,283,687 shares, which is about 10.68% of the total HAL shares outstanding. The investor’s shares have plunged by -879,835 from its previous 13-F filing of 97163522.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,932,154,892. SSgA Funds Management, Inc. acquire a 0.50% interest valued at $1.81 billion while BlackRock Fund Advisors purchased a 2,754,518 stake. A total of 25,874,957 shares of Halliburton Company were bought by Fidelity Management & Research Co during the quarter, and -15,855,236 were sold by Pzena Investment Management LLC. In its current portfolio, Norges Bank Investment Management holds 21,333,498 shares valued at $669.02 million.

In terms of Halliburton Company share price expectations, FactSet research, analysts set an average price target of $43.41 in the next 12 months, up nearly 58.28% from the previous closing price of $28.43. Analysts anticipate Halliburton Company stock to reach $53.00 by 2022, with the lowest price target being $32.00. In spite of this, 27 analysts ranked Halliburton Company stock as an Overweight at the end of 2022. On January 25, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and reiterated coverage with a $34.


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