Halliburton (NYSE:HAL) Given New $34.00 Price Target at Wells Fargo & Company

Halliburton (NYSE:HAL) had its price target cut by Wells Fargo & Company from $39.00 to $34.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

Several other analysts have also weighed in on the stock. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Jefferies Financial Group lowered their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Morgan Stanley dropped their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. BMO Capital Markets decreased their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Barclays dropped their price target on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.32.

Halliburton Stock Performance

Shares of HAL stock opened at $27.20 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 3.61 and a beta of 1.90. Halliburton has a one year low of $27.03 and a one year high of $41.56. The company’s 50-day simple moving average is $29.63 and its 200-day simple moving average is $31.16.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Halliburton will post 3 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. increased its position in shares of Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after purchasing an additional 359 shares during the period. Public Sector Pension Investment Board boosted its stake in Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after buying an additional 390 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after acquiring an additional 393 shares during the period. Northwest Bank & Trust Co raised its position in Halliburton by 3.2% in the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after acquiring an additional 397 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

About Halliburton

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.