Halliburton (NYSE:HAL) Price Target Cut to $43.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its price objective dropped by stock analysts at Barclays from $47.00 to $43.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oilfield services company’s stock. Barclays‘s price objective indicates a potential upside of 47.11% from the company’s previous close.

HAL has been the topic of a number of other research reports. Piper Sandler cut their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company cut their target price on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research note on Friday. Bank of America dropped their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, BMO Capital Markets dropped their target price 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. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.79.

Halliburton Trading Down 1.1 %

NYSE:HAL opened at $29.23 on Friday. The firm has a 50 day moving average of $29.10 and a 200 day moving average of $32.53. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The stock has a market capitalization of $25.81 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.01 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Halliburton will post 3.12 earnings per share for the current fiscal year.

Institutional Trading of Halliburton

Several institutional investors have recently modified their holdings of HAL. Csenge Advisory Group acquired a new stake in Halliburton in the 1st quarter worth about $205,000. Geneos Wealth Management Inc. boosted its stake in Halliburton by 127.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,356 shares of the oilfield services company’s stock worth $408,000 after purchasing an additional 5,802 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Halliburton by 3.4% during the first quarter. Empirical Finance LLC now owns 32,292 shares of the oilfield services company’s stock worth $1,273,000 after buying an additional 1,072 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Halliburton by 18.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,162 shares of the oilfield services company’s stock valued at $834,000 after buying an additional 3,238 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Halliburton in the first quarter worth about $4,210,000. Institutional investors and hedge funds 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.