Barclays Trims Halliburton (NYSE:HAL) Target Price to $47.00

Halliburton (NYSE:HAL) had its price target dropped by investment analysts at Barclays from $48.00 to $47.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Barclays‘s price target would suggest a potential upside of 60.19% from the company’s previous close.

Several other brokerages have also commented on HAL. Wells Fargo & Company cut their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. The Goldman Sachs Group reduced their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna dropped their price target on Halliburton from $46.00 to $42.00 and set a “positive” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. reduced their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.74.

Halliburton Stock Up 0.4 %

Shares of NYSE:HAL traded up $0.11 on Wednesday, hitting $29.34. 4,377,871 shares of the company’s stock were exchanged, compared to its average volume of 7,871,524. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85. The company has a market capitalization of $25.97 billion, a PE ratio of 10.14, a P/E/G ratio of 1.04 and a beta of 1.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The firm’s 50-day moving average is $30.13 and its 200 day moving average is $33.88.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Halliburton will post 3.13 EPS for the current year.

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Halliburton by 46.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after acquiring an additional 19,237,784 shares during the period. Pacer Advisors Inc. grew its position in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after buying an additional 13,552,927 shares in the last quarter. LSV Asset Management grew its holdings in Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after acquiring an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after buying an additional 2,618,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after purchasing an additional 1,681,620 shares during the last quarter. 85.23% of the stock is 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.