Halliburton (NYSE:HAL) Rating Lowered to Market Perform at Raymond James

Raymond James lowered shares of Halliburton (NYSE:HAL) from a strong-buy rating to a market perform rating in a report issued on Monday, MarketBeat.com reports.

Several other equities analysts have also recently issued reports on HAL. Susquehanna reduced their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. BMO Capital Markets lowered 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. Wells Fargo & Company decreased their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $38.95.

Halliburton Trading Down 0.2 %

HAL opened at $27.62 on Monday. Halliburton has a one year low of $25.51 and a one year high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The business has a 50 day simple moving average of $29.02 and a two-hundred day simple moving average of $30.47. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 3.55 and a beta of 1.91.

Halliburton (NYSE:HAL) last announced its quarterly 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). The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. Analysts predict that Halliburton will post 3 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Wednesday, December 4th. Halliburton’s payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

Several large investors have recently bought and sold shares of the business. Modus Advisors LLC purchased a new stake in shares of Halliburton during the 4th quarter valued at about $38,000. Principal Financial Group Inc. lifted its position in Halliburton by 2.3% during the third quarter. Principal Financial Group Inc. now owns 2,889,257 shares of the oilfield services company’s stock valued at $83,933,000 after purchasing an additional 63,994 shares during the period. Retirement Systems of Alabama boosted its holdings in Halliburton by 0.3% in the third quarter. Retirement Systems of Alabama now owns 195,873 shares of the oilfield services company’s stock worth $5,690,000 after purchasing an additional 587 shares during the last quarter. Franklin Resources Inc. grew its position in Halliburton by 244.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Halliburton during the 3rd quarter valued at $358,000. 85.23% of the stock is currently owned by institutional investors.

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.