Halliburton (NYSE:HAL) Cut to Neutral at Griffin Securities

Griffin Securities downgraded shares of Halliburton (NYSE:HAL) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat Ratings reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $44.00 to $37.00 in a report on Friday, September 13th. Wells Fargo & Company dropped their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Piper Sandler started coverage on Halliburton in a report on Thursday. They set an “overweight” rating and a $36.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Stifel Nicolaus cut their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.58.

Halliburton Stock Up 0.8 %

NYSE HAL opened at $25.97 on Friday. Halliburton has a twelve month low of $25.51 and a twelve month high of $41.56. The stock has a market cap of $22.81 billion, a PE ratio of 9.05, a PEG ratio of 3.61 and a beta of 1.90. The firm has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $31.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. On average, research analysts forecast that Halliburton will post 3 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Country Trust Bank bought a new stake in shares of Halliburton during the third quarter worth $36,000. Continuum Advisory LLC raised its holdings in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Halliburton during the 3rd quarter valued at about $44,000. Mattson Financial Services LLC bought a new position in shares of Halliburton in the 2nd quarter valued at about $54,000. Finally, Venturi Wealth Management LLC grew its position in shares of Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the period. 85.23% of the stock is currently owned by institutional investors.

About Halliburton

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.