Morgan Stanley Lowers Halliburton (NYSE:HAL) Price Target to $35.00

Halliburton (NYSE:HAL) had its price objective reduced by Morgan Stanley from $45.00 to $35.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s target price suggests a potential upside of 19.45% from the stock’s previous close.

A number of other equities research analysts have also commented on HAL. Evercore ISI lowered their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup lowered their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. Barclays lowered their price target on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, Piper Sandler cut their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.88.

Halliburton Stock Performance

NYSE HAL opened at $29.30 on Monday. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.95 and a beta of 1.89. The company has a 50-day simple moving average of $31.73 and a two-hundred day simple moving average of $34.96. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the prior year, the business posted $0.77 EPS. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that Halliburton will post 3.14 EPS for the current year.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Halliburton

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in Halliburton by 19.1% during the fourth quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock valued at $42,642,000 after buying an additional 189,324 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Halliburton by 319.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock worth $1,385,000 after purchasing an additional 28,137 shares during the period. Mediolanum International Funds Ltd purchased a new position in Halliburton during the first quarter valued at $1,908,000. GAMMA Investing LLC increased its position in Halliburton by 10.9% in the first quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock worth $329,000 after buying an additional 819 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Halliburton by 622.1% in the fourth quarter. Stephens Inc. AR now owns 66,741 shares of the oilfield services company’s stock worth $2,413,000 after buying an additional 57,499 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Company Profile

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.