TD Cowen Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its target price decreased by research analysts at TD Cowen from $48.00 to $47.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the oilfield services company’s stock. TD Cowen’s price objective would indicate a potential upside of 43.82% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Susquehanna reduced their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Rothschild & Co Redburn upped their price objective on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Barclays dropped their price objective on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Halliburton Price Performance

Shares of HAL stock opened at $32.68 on Wednesday. The stock’s fifty day simple moving average is $37.11 and its 200 day simple moving average is $36.47. Halliburton has a one year low of $20.39 and a one year high of $43.59. The firm has a market cap of $27.30 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts expect that Halliburton will post 2.36 earnings per share for the current fiscal year.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 258,255 shares of company stock worth $10,550,535. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HAL. Matrix Trust Co acquired a new position in Halliburton in the second quarter valued at about $29,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Halliburton in the 4th quarter valued at about $25,000. Zions Bancorporation National Association UT increased its stake in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after acquiring an additional 650 shares during the last quarter. Hoey Investments Inc. acquired a new stake in shares of Halliburton in the 1st quarter valued at approximately $39,000. Finally, Kelleher Financial Advisors bought a new position in Halliburton during the 3rd quarter worth approximately $25,000. 85.23% of the stock is currently owned by institutional investors.

Trending Headlines about Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won a new contract with Basra Oil Company to provide integrated field management, digital solutions, and EPCM services in southern Iraq, adding another large-scale international project to its backlog. Halliburton (HAL) Lands Iraq Field Development Contract With Basra Oil Company
• Positive Sentiment: The company also secured a multi-year agreement with Kuwait Oil Company to support the Ahmadi Innovation Valley, reinforcing Halliburton’s international growth story and technology-led strategy. Halliburton’s Outlook Improves as New Awards Build Momentum After Flat Q2, RBC Says
• Positive Sentiment: Second-quarter results topped expectations, with revenue of $5.71 billion and EPS of $0.55, while international revenue hit a 10-year high and margins expanded, which supports confidence in earnings resilience. Halliburton Tops Estimates as International Demand Strengthens
• Neutral Sentiment: Several brokerages lowered price targets after the earnings release, but most kept bullish ratings, suggesting analysts still see upside despite a more cautious valuation view. These Analysts Cut Their Forecasts On Halliburton Following Q2 Results
• Negative Sentiment: The company’s post-earnings outlook was described as tepid by some coverage, with warnings about a slower Middle East recovery and uneven execution tempering enthusiasm. Halliburton tumbles on tepid revenue forecast, Middle East recovery warning

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.