Halliburton (NYSE:HAL) Lowered to “Market Perform” Rating by Raymond James

Raymond James cut shares of Halliburton (NYSE:HAL) from a strong-buy rating to a market perform rating in a research report report published on Monday morning, Marketbeat Ratings reports.

A number of other equities analysts have also weighed in on HAL. Wells Fargo & Company cut their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research note on Friday, November 8th. Piper Sandler initiated coverage on Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price on the stock. Dbs Bank started coverage on Halliburton in a research report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Jefferies Financial Group dropped their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.95.

Halliburton Trading Down 0.2 %

NYSE:HAL opened at $27.62 on Monday. The firm’s 50 day moving average is $29.02 and its 200 day moving average is $30.47. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The stock has a market capitalization of $24.26 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 3.55 and a beta of 1.91. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

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

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is currently 23.69%.

Institutional Trading of Halliburton

A number of hedge funds have recently bought and sold shares of HAL. Pacer Advisors Inc. raised its stake in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares in the last quarter. Franklin Resources Inc. raised its position in Halliburton by 244.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the period. LSV Asset Management lifted its stake in Halliburton by 24,954.1% in the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Halliburton during the third quarter valued at about $55,132,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after buying an additional 1,681,620 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.