Jefferies Financial Group Lowers Halliburton (NYSE:HAL) Price Target to $46.00

Halliburton (NYSE:HAL) had its target price cut by analysts at Jefferies Financial Group from $47.00 to $46.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 53.49% from the company’s current price.

A number of other research analysts also recently weighed in on HAL. Citigroup lowered their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Piper Sandler dropped their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.11.

Halliburton Stock Up 0.1 %

HAL stock traded up $0.02 during midday trading on Tuesday, hitting $29.97. The company’s stock had a trading volume of 6,288,655 shares, compared to its average volume of 7,640,473. The firm’s 50-day moving average is $31.38 and its 200-day moving average is $34.79. The company has a current ratio of 2.13, a quick ratio of 1.54 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. The company has a market cap of $26.53 billion, a PE ratio of 10.37, a P/E/G ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS 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 for the quarter, compared to analysts’ expectations of $5.95 billion. During the same period last year, the firm posted $0.77 earnings per share. Halliburton’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Halliburton will post 3.14 earnings per share for the current fiscal year.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAL. Rise Advisors LLC bought a new position in Halliburton during the first quarter valued at $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Halliburton during the 4th quarter valued at about $33,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares during the last quarter. Crewe Advisors LLC purchased a new position in Halliburton in the first quarter worth about $46,000. Finally, Assetmark Inc. increased its stake in Halliburton by 286.2% during the fourth quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after acquiring an additional 890 shares during the last quarter. 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.