Raymond James Issues Pessimistic Forecast for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target decreased by Raymond James from $41.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the oilfield services company’s stock. Raymond James’ target price suggests a potential upside of 27.76% from the company’s current price.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. TD Cowen cut their price target on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Piper Sandler dropped their target price on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Evercore ISI reduced their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Halliburton Stock Performance

Shares of NYSE:HAL traded down $0.59 during midday trading on Friday, reaching $28.96. The company’s stock had a trading volume of 4,611,094 shares, compared to its average volume of 8,023,852. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $29.17 and a 200 day moving average of $32.62. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The firm has a market capitalization of $25.57 billion, a PE ratio of 9.62, a P/E/G ratio of 1.85 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. On average, equities analysts expect that Halliburton will post 3.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Country Trust Bank acquired a new position in shares of Halliburton during the third quarter worth about $36,000. Bruce G. Allen Investments LLC grew its holdings in Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Halliburton in the 3rd quarter valued at approximately $44,000. Crewe Advisors LLC purchased a new stake in shares of Halliburton during the 1st quarter worth $46,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.