Halliburton (NYSE:HAL) Price Target Cut to $42.00

Halliburton (NYSE:HAL) had its price target decreased by research analysts at Stifel Nicolaus from $45.00 to $42.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 35.75% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Johnson Rice raised Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Dbs Bank started coverage on shares of Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Piper Sandler lowered their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Four equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.89.

Halliburton Stock Performance

Shares of NYSE:HAL traded up $0.21 on Friday, hitting $30.94. The company had a trading volume of 544,378 shares, compared to its average volume of 7,870,757. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 1.04 and a beta of 1.88. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85. The stock has a 50 day moving average price of $30.19 and a 200 day moving average price of $34.14.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. Analysts expect that Halliburton will post 3.13 EPS for the current year.

Insider Activity

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 shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

Hedge funds have recently modified their holdings of the stock. Quarry LP increased its position in Halliburton by 542.0% in the 4th quarter. Quarry LP now owns 2,138 shares of the oilfield services company’s stock valued at $77,000 after buying an additional 1,805 shares in the last quarter. Sunpointe LLC bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $338,000. V Square Quantitative Management LLC raised its position in shares of Halliburton by 37.1% during the fourth quarter. V Square Quantitative Management LLC now owns 14,913 shares of the oilfield services company’s stock worth $539,000 after purchasing an additional 4,038 shares during the period. Neo Ivy Capital Management bought a new position in shares of Halliburton in the 4th quarter worth $200,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Halliburton in the 4th quarter worth $73,000. Institutional investors own 85.23% of the company’s stock.

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.