Halliburton (NYSE:HAL) PT Lowered to $35.00 at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective cut by Morgan Stanley from $45.00 to $35.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other research firms have also recently issued reports on HAL. JPMorgan Chase & Co. decreased their target price on Halliburton from $45.00 to $40.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. TD Cowen reduced their target price on Halliburton from $47.00 to $45.00 and set a buy rating on the stock in a report on Monday, July 22nd. Citigroup reduced their target price on Halliburton from $50.00 to $45.00 and set a buy rating on the stock in a report on Friday, June 28th. Stifel Nicolaus dropped their price target on Halliburton from $47.00 to $46.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group dropped their price target on Halliburton from $47.00 to $40.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Halliburton currently has a consensus rating of Moderate Buy and a consensus target price of $43.17.

Halliburton Stock Up 1.5 %

HAL stock opened at $29.53 on Monday. The company has a market cap of $26.14 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89. The business has a 50-day simple moving average of $31.57 and a 200 day simple moving average of $34.88. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 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 business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s payout ratio is currently 23.53%.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’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 approximately $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HAL. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 19,237,784 shares during the period. Pacer Advisors Inc. grew its stake in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after purchasing an additional 13,552,927 shares during the period. Norges Bank bought a new position in Halliburton in the 4th quarter valued at $400,070,000. LSV Asset Management grew its stake in Halliburton by 24,954.1% in the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after purchasing an additional 2,720,000 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 worth $3,952,805,000 after acquiring an additional 2,618,740 shares during the period. 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.