Halliburton (NYSE:HAL) Given New $41.00 Price Target at Jefferies Financial Group

Halliburton (NYSE:HAL) had its price target cut by investment analysts at Jefferies Financial Group from $43.00 to $41.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oilfield services company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 48.12% from the stock’s current price.

A number of other research firms have also recently issued reports on HAL. BMO Capital Markets lowered their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Stifel Nicolaus lowered their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Morgan Stanley reduced their target price on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.95.

Halliburton Stock Performance

HAL stock opened at $27.68 on Friday. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The firm has a market cap of $24.32 billion, a PE ratio of 9.64, a P/E/G ratio of 3.55 and a beta of 1.90. The business’s 50-day moving average price is $29.02 and its two-hundred day moving average price is $30.55.

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

Institutional Trading of Halliburton

Hedge funds have recently added to or reduced their stakes in the company. Country Trust Bank acquired a new stake in Halliburton in the 3rd quarter worth about $36,000. Modus Advisors LLC acquired a new stake in shares of Halliburton in the fourth quarter valued at approximately $38,000. Continuum Advisory LLC boosted its stake in shares of Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in Halliburton during the 3rd quarter worth $44,000. Finally, Venturi Wealth Management LLC raised its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 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.