Halliburton (NYSE:HAL) had its price objective dropped by equities research analysts at Wells Fargo & Co from $30.00 to $26.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the oilfield services company’s stock. Wells Fargo & Co‘s price target would suggest a potential upside of 29.68% from the company’s previous close.
Several other equities analysts have also recently issued reports on HAL. Edward Jones cut Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 24th. Cowen reiterated an “outperform” rating and set a $35.00 price target (up from $33.00) on shares of Halliburton in a research report on Tuesday, July 23rd. Citigroup lowered their price target on Halliburton from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Stephens lowered their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $38.00.
HAL opened at $20.05 on Thursday. Halliburton has a 12 month low of $16.97 and a 12 month high of $42.57. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 1.59. The stock has a market cap of $17.37 billion, a P/E ratio of 10.55, a P/E/G ratio of 2.36 and a beta of 1.37. The stock’s 50 day moving average price is $19.77 and its 200 day moving average price is $24.65.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same period last year, the firm earned $0.58 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that Halliburton will post 1.33 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Halliburton by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,955,241 shares of the oilfield services company’s stock valued at $264,077,000 after purchasing an additional 683,635 shares in the last quarter. United Bank boosted its stake in Halliburton by 4.9% in the 1st quarter. United Bank now owns 12,345 shares of the oilfield services company’s stock worth $362,000 after purchasing an additional 574 shares during the period. Victory Capital Management Inc. boosted its stake in Halliburton by 687.1% in the 1st quarter. Victory Capital Management Inc. now owns 102,132 shares of the oilfield services company’s stock worth $2,992,000 after purchasing an additional 89,156 shares during the period. Bbva Compass Bancshares Inc. raised its holdings in shares of Halliburton by 86.1% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 8,980 shares of the oilfield services company’s stock valued at $263,000 after purchasing an additional 4,155 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Halliburton by 10.0% in the 1st quarter. Cetera Investment Advisers now owns 10,480 shares of the oilfield services company’s stock valued at $306,000 after purchasing an additional 952 shares during the period. 77.70% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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