Barclays Lowers Halliburton (NYSE:HAL) Price Target to $43.00

Halliburton (NYSE:HAL) had its price target cut by research analysts at Barclays from $47.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Barclays‘s price target suggests a potential upside of 47.11% from the company’s previous close.

A number of other research firms also recently commented on HAL. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Raymond James dropped their target price on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research report on Friday. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.79.

Halliburton Stock Performance

Shares of HAL opened at $29.23 on Friday. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The business’s fifty day simple moving average is $29.10 and its two-hundred day simple moving average is $32.53. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.01 and a beta of 1.89.

Halliburton (NYSE:HAL) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Research analysts anticipate that Halliburton will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC increased its position in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Halliburton in the 1st quarter worth $46,000. Country Trust Bank bought a new position in shares of Halliburton during the 3rd quarter worth $36,000. Beacon Capital Management LLC increased its stake in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after buying an additional 309 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of Halliburton in the third quarter valued at about $44,000. 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.