Halliburton (NYSE:HAL) Given New $40.00 Price Target at Susquehanna

Halliburton (NYSE:HAL) had its price target dropped by Susquehanna from $42.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s target price would suggest a potential upside of 35.27% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Bank of America decreased their target price on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley decreased their target price on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Jefferies Financial Group decreased their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Barclays decreased their price objective on Halliburton from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Halliburton in a report on Friday. Four 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’s stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $41.53.

Halliburton Price Performance

Shares of HAL traded up $0.02 during trading hours on Friday, hitting $29.57. 1,013,772 shares of the company were exchanged, compared to its average volume of 8,007,274. The company has a market capitalization of $26.11 billion, a PE ratio of 9.82, a PEG ratio of 1.85 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The firm has a fifty day simple moving average of $29.17 and a 200-day simple moving average of $32.62. Halliburton has a one year low of $27.26 and a one year high of $41.56.

Halliburton (NYSE:HAL) last posted its earnings results 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). The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. As a group, sell-side analysts predict that Halliburton will post 3.12 earnings per share for the current year.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings 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 valued at $4,806,431,000 after buying an additional 377,500 shares during the period. Vanguard Group Inc. lifted its position in shares of Halliburton by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after acquiring an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Halliburton by 46.0% during 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. grew its holdings 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 purchasing an additional 13,552,927 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $340,752,000 after purchasing an additional 1,681,620 shares in the last quarter. 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.