Halliburton Price Target Cut to $11.00 (HAL)
Equities research analysts at Cowen and Company lowered their price target on shares of Halliburton (NYSE:HAL) from $25.00 to $11.00 in a research note issued to investors on Wednesday, ARN reports. Cowen and Company’s price target would suggest a potential downside of 77.89% from the company’s current price.
A number of other firms have also recently commented on HAL. Analysts at Macquarie downgraded shares of Halliburton (NYSE:HAL) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 12th. They now have a $54.00 price target on the stock, up previously from $51.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Halliburton (NYSE:HAL) in a research note to investors on Monday, September 9th. Finally, analysts at Wells Fargo & Co. downgraded shares of Halliburton (NYSE:HAL) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, September 9th.
Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Halliburton has a consensus rating of “Buy” and an average target price of $53.11.
Shares of Halliburton (NYSE:HAL) traded up 0.16% on Wednesday, hitting $49.75. 9,290,587 shares of the company’s stock traded hands. Halliburton has a 52-week low of $29.83 and a 52-week high of $50.50. The stock’s 50-day moving average is $47.8 and its 200-day moving average is $43.5. The company has a market cap of $45.451 billion and a P/E ratio of 24.31.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.01. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the company posted $0.82 earnings per share. Halliburton’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Halliburton will post $3.23 earnings per share for the current fiscal year.
In other Halliburton news, CFO Mark A. Mccollum unloaded 52,400 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.07, for a total transaction of $2,623,668.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.
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