Halliburton (NYSE:HAL) Price Target Cut to $37.00 by Analysts at Stifel Nicolaus

Halliburton (NYSE:HAL) had its price target cut by stock analysts at Stifel Nicolaus from $42.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 29.30% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Griffin Securities cut Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Bank of America reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group lowered their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a 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 $37.84.

Halliburton Stock Up 0.5 %

Shares of HAL stock traded up $0.14 during trading on Thursday, reaching $28.62. The company’s stock had a trading volume of 1,375,148 shares, compared to its average volume of 10,044,721. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 3.72 and a beta of 1.91. The stock’s 50-day moving average price is $28.89 and its 200 day moving average price is $30.04. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56.

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 analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. On average, research analysts anticipate that Halliburton will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently modified their holdings of HAL. Franklin Resources Inc. raised its stake in shares of Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after buying an additional 3,203,224 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after acquiring an additional 3,150,986 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Halliburton in the third quarter valued at $55,132,000. Thrivent Financial for Lutherans boosted its position in shares of Halliburton by 22.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after purchasing an additional 995,649 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Halliburton by 127.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,130 shares of the oilfield services company’s stock worth $52,600,000 after purchasing an additional 871,789 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

About Halliburton

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.