Halliburton (NYSE:HAL) PT Lowered to $47.00

Halliburton (NYSE:HAL) had its price target lowered by equities research analysts at Barclays from $48.00 to $47.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Barclays‘s price target would indicate a potential upside of 62.40% from the stock’s current price.

Several other research firms have also commented on HAL. Benchmark reiterated a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research report on Monday, July 22nd. Wells Fargo & Company lowered their target price on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a report on Friday, July 19th. BMO Capital Markets lowered their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler lowered their target price on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Four 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.74.

Halliburton Price Performance

HAL stock opened at $28.94 on Wednesday. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $30.05 and a two-hundred day simple moving average of $33.82. The firm has a market capitalization of $25.62 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88.

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 net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the business earned $0.77 earnings per share. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Halliburton will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its position in Halliburton by 19.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 26,014 shares of the oilfield services company’s stock valued at $756,000 after purchasing an additional 4,240 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Halliburton by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 103,584 shares of the oilfield services company’s stock worth $3,009,000 after buying an additional 1,021 shares during the last quarter. Ballast Inc. grew its position in shares of Halliburton by 13.2% in the 3rd quarter. Ballast Inc. now owns 15,102 shares of the oilfield services company’s stock worth $439,000 after buying an additional 1,758 shares during the last quarter. Ellsworth Advisors LLC grew its position in shares of Halliburton by 22.3% in the 3rd quarter. Ellsworth Advisors LLC now owns 18,988 shares of the oilfield services company’s stock worth $552,000 after buying an additional 3,460 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Halliburton by 63.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 57,064 shares of the oilfield services company’s stock worth $1,658,000 after buying an additional 22,047 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.