The stock of Halliburton Company (NYSE:HAL) is now priced at $16.18 and the shares are -0.09 points down or -0.55% lower compared to its previous closing price of $16.27. The stock had 9.418 million contracts set over the past session. HAL shares’ daily volume is compared to its average trading volume at 17.082 million shares. However, it has a float of 876 million and although its performance was -0.68% over the week, it’s one to watch. Analysts have given the HAL stock a yearly average price target of $15.63 per share. It means the stock’s downside potential is -3.4% with the HAL share price recently placing at $15.9618 to $16.34. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are running away from the Halliburton Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the HAL shares have declined. Short interest in the stock represents just 5.47% of its float, but the volume has dropped by 0.
In the last trading session, Halliburton Company (NYSE:HAL) dropped by -$0.11 over the week and gained $1.65 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25.47. The stock recorded its established 52-week high on 01/06/20.
Since 03/18/20, the stock has traded to a low of $4.25 at 280.71%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.64. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Halliburton Company’s two-week RSI is 59.13. This suggests that the stock is neutral at the moment and that HAL shares’ price movement remains stable. The stochastic readings are equally revealing at 51.36% meaning the HAL share price is currently in neutral territory.
The technical chart shows that the HAL stock will likely settle at between $16.36 and $16.54 per share. However, if the stock dips below $15.98, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.78.
Currently, the stock is trading in the green of MACD, with a reading of 0.05. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BofA Securities raised their recommendation for HAL from Neutral to Buy in July 21 review while maintain their target price of $14 to $18. Cowen analysts upgraded their recommendation of the stock from Market Perform to Outperform while keeping its target price at $17 in a flash note released to investors on July 15. Northland Capital analysts see the stock as Market Perform when the analysts initiated the share price coverage on May 29, placing it at $11.
The average rating for the HAL equity is 2.65 and is currently gathering a bullish momentum. Of 30 analysts tracking Halliburton Company polled by Reuters, 18 rated HAL as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (11) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the HAL stock price is 31.66X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Halliburton Company (NYSE:HAL) will decrease by about -2.38%, which will see them reach $3120 million. The company’s full-year revenues are, however, expected to diminish by about -35.61%, down from $22400 million to $14400 million. HAL’s expected adjusted earnings should drop almost -76.47% to end up at $0.08 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -57.26% to record $0.53/share.