Home Analysts Viewpoint The Attractiveness of Investing In Halliburton Company (HAL) is Growing

The Attractiveness of Investing In Halliburton Company (HAL) is Growing

The Attractiveness of Investing In Halliburton Company (HAL) is Growing

Halliburton Company’s recently made public that its Director Banks Margaret Katherine unloaded Company’s shares for reported $0.21 million on Oct 28. In the deal valued at $35.49 per share,6,000 shares were sold. As a result of this transaction, Banks Margaret Katherine now holds 14,625 shares worth roughly $ 0.58 million.

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Then, Rainey Joe D sold 20,000 shares, generating $854,600 in total proceeds. Upon selling the shares at $42.73, the Pres., Eastern Hemisphere now owns 310,014 shares.

Before that, Pope Lawrence J sold 10,000 shares. Halliburton Company shares valued at $409,500 were divested by the EVP Administration & CHRO at a price of $40.95 per share. As a result of the transaction, Pope Lawrence J now holds 273,342 shares, worth roughly $10.81 million.

Wells Fargo upgraded its Halliburton Company [HAL] rating to an Overweight from a an Equal weight in a research note published on Monday. PT values the company’s stock at a premium of 23.96 to its Monday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid October with a ‘”a Buy”‘ rating. HSBC Securities revised its rating on April 27, 2022. It rated HAL as “a Buy” which previously was an “a Hold”.

Price Performance Review of HAL

On Monday, Halliburton Company [NYSE:HAL] saw its stock jump 2.75% to $39.54. On the same session, the stock had its day’s lowest price of $38.71, but rose to a high of $39.675. Over the last five days, the stock has gained 8.57%. Halliburton Company shares have risen nearly 72.89% since the year began. Nevertheless, the stocks have risen 60.15% over the past one year. While a 52-week high of $43.99 was reached on 06/08/22, a 52-week low of $20.77 was recorded on 01/03/22. SMA at 50 days reached $30.48, while 200 days put it at $33.12. A total of 9.71 million shares were traded, compared to the trading of 2.48 million shares in the previous session.

Levels Of Support And Resistance For HAL Stock

The 24-hour chart illustrates a support level at 38.94, which if violated will result in even more drops to 38.34. On the upside, there is a resistance level at 39.91. A further resistance level may holdings at 40.27. The Relative Strength Index (RSI) on the 14-day chart is 77.13, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.63, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.51%. Stochastics %K at 95.69% indicates the stock is a selling.

How much short interest is there in Halliburton Company?

A steep rise in short interest was recorded in Halliburton Company stocks on Jul 14, 2022, dropping by -0.69 million shares to a total of 18.23 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 18.92 million shares. There was a decline of -3.78%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.42.

Halliburton Company [HAL] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 96,221,756 shares, or roughly 10.61% of the outstanding HAL shares. In other words, the investor’s shares have fallen by -61,931 from its previous 13-F filing of 96283687.0. Additionally, Capital Research & Management Co increased 2.84% of its stake after which the total value it holdings stand at $1,559,992,407, while SSgA Funds Management, Inc. added 0.65% of its stake to hold $1.43 billion in the firm. Over the last quarter, Fidelity Management & Research Co purchased 12,001,216 shares of Halliburton Company, while BlackRock Fund Advisors bought 2,673,848 shares. At present, Norges Bank Investment Management is holding 21,333,498 shares valued at $525.23 million. Sanders Capital LLC owned 20,743,780 shares of the company at the time of its most recent 13F filing, worth $510.71 million.

According to FactSet, Halliburton Company’s share price will average $44.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.51 percent from its previous closing price of $38.48. Analysts expect Halliburton Company stock to reach the higher price of $54.00, while the lowest price estimate is $33.00. However, 27 analysts have rated HAL stock as a Buy in their predictions for 2022.


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