Stifel Nicolaus Lowers Halliburton (NYSE:HAL) Price Target to $42.00

Halliburton (NYSE:HAL) had its price target cut by equities research analysts at Stifel Nicolaus from $45.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 36.28% from the stock’s previous close.

A number of other equities analysts also recently commented on HAL. Piper Sandler decreased their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup decreased their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 28th. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $44.00 to $37.00 in a report on Friday, September 13th. The Goldman Sachs Group reduced their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Dbs Bank started coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.89.

Halliburton Stock Up 0.3 %

Shares of NYSE:HAL opened at $30.82 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $30.17 and a 200 day simple moving average of $34.05. The firm has a market cap of $27.21 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, equities research analysts anticipate 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 business’s 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 sale, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors raised its position in Halliburton by 0.3% in the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock worth $4,806,431,000 after acquiring an additional 377,500 shares in the last quarter. Vanguard Group Inc. raised its position 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 worth $3,952,805,000 after acquiring an additional 2,618,740 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. raised its position in Halliburton by 17,317.6% in the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Halliburton by 20.0% in 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 acquiring an additional 1,681,620 shares in 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.