Halliburton (NYSE:HAL) Given New $37.00 Price Target at Stifel Nicolaus

Halliburton (NYSE:HALGet Free Report) had its price target dropped by stock analysts at Stifel Nicolaus from $42.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 32.97% from the company’s current price.

HAL has been the topic of several other reports. Evercore ISI lowered their price objective on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler assumed coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Jefferies Financial Group cut their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

View Our Latest Research Report on HAL

Halliburton Stock Performance

Shares of NYSE HAL opened at $27.83 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.05. The stock has a 50 day moving average price of $28.85 and a 200 day moving average price of $30.03. The stock has a market capitalization of $24.45 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56.

Halliburton (NYSE:HALGet Free Report) last released 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 analyst estimates of $5.83 billion. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Analysts predict that Halliburton will post 2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Asset Management LLC raised its stake in Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after purchasing an additional 56,707 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Halliburton by 105.2% in the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after buying an additional 95,864 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after acquiring an additional 3,150,986 shares during the period. Quest Partners LLC boosted its position in shares of Halliburton by 2,418.9% during the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after acquiring an additional 75,275 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new position in Halliburton in the third quarter valued at approximately $1,181,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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