Halliburton (NYSE:HAL) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Halliburton (NYSE:HAL) had its price objective reduced by JPMorgan Chase & Co. from $35.00 to $33.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oilfield services company’s stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. Morgan Stanley cut their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company decreased their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets dropped their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Stifel Nicolaus decreased their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average price target of $39.21.

Halliburton Price Performance

Shares of Halliburton stock opened at $27.73 on Thursday. The stock has a market cap of $24.36 billion, a P/E ratio of 9.66, a P/E/G ratio of 3.55 and a beta of 1.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The stock’s fifty day moving average is $29.03 and its 200 day moving average is $30.59. Halliburton has a one year low of $25.51 and a one year high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Sell-side analysts anticipate that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.45%. Halliburton’s payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

Institutional investors have recently modified their holdings of the stock. MidWestOne Financial Group Inc. lifted its holdings in shares of Halliburton by 4.4% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Halliburton by 0.3% in the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after purchasing an additional 390 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 393 shares during the period. Northwest Bank & Trust Co grew its stake in shares of Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after buying an additional 397 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the period. 85.23% of the stock is owned by institutional investors.

About Halliburton

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.