Halliburton (NYSE:HAL) Price Target Cut to $47.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its price objective trimmed by Barclays from $48.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the oilfield services company’s stock.

Several other research firms have also recently weighed in on HAL. Jefferies Financial Group cut their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. BMO Capital Markets cut their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Citigroup dropped their price target on Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Dbs Bank initiated coverage on Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target on the stock. Finally, TD Cowen dropped their price target on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.74.

Halliburton Trading Up 0.2 %

Shares of Halliburton stock opened at $29.30 on Wednesday. The stock has a fifty day simple moving average of $30.10 and a 200 day simple moving average of $33.85. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85. The company has a market capitalization of $25.94 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

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

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio is presently 23.53%.

Institutional Trading of Halliburton

Institutional investors and hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its stake in shares of Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock valued at $28,455,000 after acquiring an additional 500,000 shares in the last quarter. Mackenzie Financial Corp raised its stake in Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after buying an additional 95,864 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Halliburton by 319.0% in the first quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock worth $1,385,000 after buying an additional 28,137 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Halliburton in the first quarter worth approximately $1,908,000. Finally, Sanctuary Advisors LLC bought a new position in Halliburton in the second quarter worth approximately $2,257,000. Institutional investors own 85.23% of the company’s stock.

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.