Jefferies Financial Group Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price objective dropped by equities researchers at Jefferies Financial Group from $43.00 to $41.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 48.12% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler assumed coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price for the company. Raymond James reduced their price objective on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research report on Friday, November 8th. Bank of America cut their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Dbs Bank began coverage on Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.95.

Halliburton Stock Down 0.2 %

Halliburton stock opened at $27.68 on Friday. The company has a market capitalization of $24.32 billion, a P/E ratio of 9.64, a P/E/G ratio of 3.55 and a beta of 1.90. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The firm’s fifty day simple moving average is $29.02 and its 200-day simple moving average is $30.55. 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 for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Sell-side analysts forecast that Halliburton will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

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