Bank of America Trims Halliburton (NYSE:HAL) Target Price to $38.00

Halliburton (NYSE:HAL) had its price target cut by research analysts at Bank of America from $40.00 to $38.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Bank of America‘s price objective suggests a potential upside of 24.39% from the company’s current price.

Other equities analysts also recently issued reports about the company. BMO Capital Markets dropped their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday. Dbs Bank started coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Stifel Nicolaus dropped their price target on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. Johnson Rice raised Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Finally, StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.79.

Halliburton Trading Down 0.9 %

Shares of HAL stock traded down $0.27 on Monday, hitting $30.55. 1,597,366 shares of the stock traded hands, compared to its average volume of 7,861,183. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The firm’s 50-day moving average price is $30.17 and its two-hundred day moving average price is $34.02. The stock has a market capitalization of $27.05 billion, a PE ratio of 10.57, a PEG ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last posted its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, analysts anticipate that Halliburton will post 3.13 EPS for the current year.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

A number of institutional investors have recently made changes to their positions in HAL. Capital World Investors increased its position in shares of Halliburton by 0.3% during the 1st quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after purchasing an additional 377,500 shares during the period. Vanguard Group Inc. grew its holdings in Halliburton by 2.7% during the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after acquiring an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD raised its position in Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after acquiring an additional 13,552,927 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares in 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.