Halliburton (NYSE:HAL) PT Lowered to $42.00

Halliburton (NYSE:HAL) had its target price cut by Susquehanna from $46.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price objective would indicate a potential upside of 36.19% from the company’s previous close.

HAL has been the subject of a number of other reports. Royal Bank of Canada cut shares of Halliburton from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. The Goldman Sachs Group cut their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets lowered their price target on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday. StockNews.com lowered Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Bank of America decreased their target price on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.11.

Halliburton Stock Performance

Shares of Halliburton stock opened at $30.84 on Friday. The company has a 50-day simple moving average of $30.19 and a two-hundred day simple moving average of $34.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a one year low of $27.52 and a one year high of $43.85. The company has a market capitalization of $27.23 billion, a PE ratio of 10.19, a P/E/G ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. Research analysts expect that Halliburton will post 3.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Halliburton

Several large investors have recently added to or reduced their stakes in HAL. First Horizon Advisors Inc. grew its holdings in shares of Halliburton by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after purchasing an additional 295 shares during the period. Massachusetts Wealth Management increased its holdings in shares of Halliburton by 1.7% during the 1st quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock worth $722,000 after buying an additional 300 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of Halliburton by 28.8% during the 1st 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. Guinness Atkinson Asset Management Inc raised its position in shares of Halliburton by 3.1% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after buying an additional 330 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in Halliburton by 2.9% in the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after acquiring an additional 336 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other 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.