Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Halliburton Co. shares valued at $176,500 were sold by Banks Margaret Katherine on Mar 05 ’24. At $35.30 per share, Banks Margaret Katherine sold 5,000 shares. The insider’s holdings dropped to 9,625 shares worth approximately $0.4 million following the completion of this transaction.
Also, Miller Jeffrey Allen sold 377,000 shares, netting a total of over 13,308,100 in proceeds. Following the sale of shares at $35.30 each, the insider now holds 759,015 shares.
Before that, Beckwith Van H. had sold 5,000 shares from its account. In a trade valued at $214,700, the EVP, Secretary and CLO traded Halliburton Co. shares for $42.94 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $7.25 million.
As published in a research note from TD Cowen on January 24, 2024, Halliburton Co. [HAL] has been retained to an Outperform and the price target has been revised to $51. Analysts at CapitalOne started covering the stock with ‘”an Overweight”‘ outlook in a report released in early June. As of April 19, 2023, UBS has initiated its “Buy” rating for HAL. Earlier on January 19, 2023, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for HAL stock.
Analyzing HAL Stock Performance
During the last five days, there has been a surge of approximately 0.66%. Over the course of the year, Halliburton Co. shares have jumped approximately 13.72%. Shares of the company reached a 52-week high of $41.56 on 04/08/24 and a 52-week low of $32.84 on 01/17/24. A 50-day SMA is recorded $36.83, while a 200-day SMA reached $37.82. Nevertheless, trading volume fell to 5.47 million shares from 4.21 million shares the previous day.
Support And Resistance Levels for Halliburton Co. (HAL)
According to the 24-hour chart, there is a support level at 40.65, which, if violated, would cause prices to drop to 40.18. In the upper region, resistance lies at 41.48. The next price resistance is at 41.84. RSI (Relative Strength Index) is 76.13 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.17, which suggests the price will increase in the coming days. Percent R is at 13.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Halliburton Co. subject to short interest?
Stocks of Halliburton Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.48 million shares to 23.74 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 22.26 million shares. A jump of 6.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.51 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.51.
