Halliburton (NYSE:HAL) Given New $33.00 Price Target at JPMorgan Chase & Co.

Halliburton (NYSE:HAL) had its price target reduced by JPMorgan Chase & Co. from $35.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other brokerages also recently issued reports on HAL. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Bank of America reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley lowered their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Dbs Bank started coverage on Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Six 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. According to data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $39.21.

Halliburton Price Performance

HAL stock opened at $27.73 on Thursday. The firm’s 50-day moving average price is $29.03 and its two-hundred day moving average price is $30.59. Halliburton has a 12-month low of $25.51 and a 12-month high of $41.56. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.55 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, equities analysts predict that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.45%. Halliburton’s dividend payout ratio is 23.69%.

Institutional Investors Weigh In On Halliburton

Several large investors have recently bought and sold shares of the business. Cary Street Partners Asset Management LLC grew its position in Halliburton by 56.5% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after purchasing an additional 56,707 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Halliburton by 146.0% in the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after acquiring an additional 500,000 shares during the period. Mackenzie Financial Corp increased its position in Halliburton by 105.2% during the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after acquiring an additional 95,864 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after acquiring an additional 3,150,986 shares during the period. Finally, Quest Partners LLC boosted its position in Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after purchasing an additional 75,275 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

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.