Halliburton (NYSE:HAL) had its price objective decreased by Morgan Stanley from $36.00 to $30.00 in a research note published on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the oilfield services company’s stock.
Several other research firms have also recently weighed in on HAL. ValuEngine raised Halliburton from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Credit Suisse Group cut their price target on shares of Halliburton from $33.00 to $27.00 and set an outperform rating on the stock in a report on Tuesday, July 23rd. Piper Jaffray Companies set a $26.00 price target on shares of Halliburton and gave the company a buy rating in a report on Monday, July 1st. Barclays downgraded shares of Halliburton from an overweight rating to an equal weight rating and cut their price target for the company from $31.00 to $23.00 in a report on Monday, September 16th. Finally, Wells Fargo & Co cut their price target on shares of Halliburton from $30.00 to $26.00 and set an outperform rating on the stock in a report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $35.67.
Shares of HAL opened at $18.82 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 1.59. Halliburton has a one year low of $16.97 and a one year high of $40.57. The company has a 50-day simple moving average of $19.15 and a two-hundred day simple moving average of $23.25. The firm has a market capitalization of $15.99 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 2.24 and a beta of 1.37.
Halliburton (NYSE:HAL) last released its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. The firm had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period last year, the business earned $0.58 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Analysts expect that Halliburton will post 1.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.83%. Halliburton’s dividend payout ratio is presently 37.89%.
In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the purchase, the director now owns 16,000 shares in the company, valued at $309,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. Energy Opportunities Capital Management LLC raised its holdings in shares of Halliburton by 17.9% during the second quarter. Energy Opportunities Capital Management LLC now owns 107,931 shares of the oilfield services company’s stock worth $2,454,000 after purchasing an additional 16,354 shares during the last quarter. 361 Capital LLC acquired a new stake in Halliburton during the second quarter valued at $702,000. Corrado Advisors LLC acquired a new stake in Halliburton during the second quarter valued at $114,000. Wealthfront Advisers LLC grew its position in Halliburton by 131.1% during the first quarter. Wealthfront Advisers LLC now owns 42,361 shares of the oilfield services company’s stock valued at $1,241,000 after buying an additional 24,032 shares during the period. Finally, Cerebellum GP LLC grew its position in Halliburton by 30.5% during the second quarter. Cerebellum GP LLC now owns 15,104 shares of the oilfield services company’s stock valued at $343,000 after buying an additional 3,533 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
Further Reading: Outperform Rating
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