Brokerages Set Halliburton (NYSE:HAL) Target Price at $37.42

Shares of Halliburton (NYSE:HAL) have been given an average recommendation of “Moderate Buy” by the twenty analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.42.

Several brokerages recently issued reports on HAL. Barclays reduced their price objective on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets cut their price target 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a research note on Thursday, January 23rd. 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 research note on Friday, January 3rd. Finally, Stifel Nicolaus cut their price target on Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd.

Halliburton Trading Down 1.1 %

NYSE:HAL opened at $26.35 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91. The stock has a fifty day simple moving average of $28.67 and a 200 day simple moving average of $29.85.

Halliburton (NYSE:HAL) last announced 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 analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. Sell-side analysts forecast that Halliburton will post 2.94 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is 24.03%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in Halliburton by 31.3% in the 4th quarter. Van ECK Associates Corp now owns 5,100,693 shares of the oilfield services company’s stock valued at $138,688,000 after buying an additional 1,214,586 shares during the last quarter. Great Lakes Retirement Inc. grew its holdings in Halliburton by 18.4% in the 4th quarter. Great Lakes Retirement Inc. now owns 23,907 shares of the oilfield services company’s stock valued at $650,000 after buying an additional 3,723 shares during the last quarter. Quent Capital LLC grew its holdings in Halliburton by 261.1% in the 4th quarter. Quent Capital LLC now owns 2,246 shares of the oilfield services company’s stock valued at $61,000 after buying an additional 1,624 shares during the last quarter. Eukles Asset Management grew its holdings in Halliburton by 6.2% in the 4th quarter. Eukles Asset Management now owns 12,296 shares of the oilfield services company’s stock valued at $334,000 after buying an additional 713 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Halliburton in the 4th quarter valued at approximately $52,000. 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.