Royal Bank of Canada Reiterates Sector Perform Rating for Halliburton (NYSE:HAL)

Halliburton (NYSE:HAL)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They currently have a $34.00 price target on the oilfield services company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.40% from the stock’s current price.

Other equities analysts have also issued reports about the company. UBS Group lowered Halliburton from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Bank of America cut their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets dropped their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Finally, Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Price Performance

Shares of NYSE HAL traded down $0.01 during midday trading on Thursday, reaching $28.48. 3,746,078 shares of the company traded hands, compared to its average volume of 10,227,574. The firm has a market cap of $25.02 billion, a PE ratio of 9.92, a PEG ratio of 3.72 and a beta of 1.91. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The stock’s 50-day simple moving average is $28.89 and its 200-day simple moving average is $30.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last announced its quarterly earnings data 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 firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, equities analysts anticipate that Halliburton will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

A number of hedge funds have recently bought and sold shares of the business. Country Trust Bank bought a new position in Halliburton during the 3rd quarter worth $36,000. Modus Advisors LLC acquired a new position in Halliburton in the fourth quarter valued at about $38,000. Continuum Advisory LLC lifted its position in Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter valued at about $44,000. Finally, Venturi Wealth Management LLC raised its position in shares of 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 buying an additional 412 shares in the last quarter. 85.23% of the stock is 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.