Raymond James Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its target price cut by Raymond James from $41.00 to $37.00 in a research note released on Friday morning,Benzinga reports. They currently have a strong-buy rating on the oilfield services company’s stock.

Several other analysts also recently commented on HAL. The Goldman Sachs Group reduced their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Evercore ISI reduced their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Susquehanna dropped their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research report on Friday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.79.

Halliburton Price Performance

Shares of NYSE HAL opened at $30.15 on Friday. The company has a market capitalization of $26.62 billion, a PE ratio of 10.18, a P/E/G ratio of 1.93 and a beta of 1.89. The company has a quick ratio of 1.54, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The firm has a fifty day simple moving average of $29.10 and a 200 day simple moving average of $32.45.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the business posted $0.79 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Halliburton will post 3.09 EPS for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.26%. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Hedge Funds Weigh In On Halliburton

Several institutional investors have recently bought and sold shares of HAL. Csenge Advisory Group bought a new position in Halliburton in the 1st quarter worth approximately $205,000. Geneos Wealth Management Inc. boosted its holdings in shares of Halliburton by 127.4% in the first quarter. Geneos Wealth Management Inc. now owns 10,356 shares of the oilfield services company’s stock worth $408,000 after acquiring an additional 5,802 shares during the period. Empirical Finance LLC grew its position in shares of Halliburton by 3.4% in the first quarter. Empirical Finance LLC now owns 32,292 shares of the oilfield services company’s stock valued at $1,273,000 after purchasing an additional 1,072 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Halliburton by 18.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,162 shares of the oilfield services company’s stock valued at $834,000 after purchasing an additional 3,238 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Halliburton during the 1st quarter worth about $4,210,000. 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.