Stifel Nicolaus Cuts Halliburton (NYSE:HAL) Price Target to $46.00

Halliburton (NYSE:HAL) had its price objective lowered by research analysts at Stifel Nicolaus from $47.00 to $46.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 26.51% from the stock’s current price.

Several other analysts have also weighed in on the stock. Piper Sandler lowered their target price on shares of Halliburton from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen boosted their target price on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Susquehanna reiterated a “positive” rating and set a $49.00 target price on shares of Halliburton in a research note on Monday, April 8th. Finally, Morgan Stanley boosted their target price on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.59.

Halliburton Stock Up 1.1 %

Shares of NYSE:HAL opened at $36.36 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $34.92 and a 200 day simple moving average of $36.13. The firm has a market cap of $32.19 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.90 and a beta of 1.93. Halliburton has a 12-month low of $32.60 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts anticipate that Halliburton will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total transaction of $369,200.00. Following the completion of the sale, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The disclosure for this sale can be found here. Insiders sold 52,287 shares of company stock valued at $1,930,704 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halliburton

Institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in Halliburton in the 1st quarter valued at about $26,000. IAG Wealth Partners LLC acquired a new stake in Halliburton in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new stake in Halliburton in the 4th quarter valued at about $33,000. Princeton Global Asset Management LLC acquired a new stake in Halliburton in the 4th quarter valued at about $36,000. Finally, First United Bank & Trust acquired a new stake in Halliburton in the 4th quarter valued at about $36,000. 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.