Halliburton (NYSE:HAL) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

Halliburton (NYSE:HAL) had its target price trimmed by Wells Fargo & Company from $39.00 to $34.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the oilfield services company’s stock.

HAL has been the topic of a number of other research reports. Bank of America decreased 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. Raymond James decreased their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 8th. Barclays dropped their price objective on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Finally, Royal Bank of Canada downgraded Halliburton from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Halliburton Stock Down 1.5 %

Shares of HAL opened at $25.77 on Tuesday. The company has a market capitalization of $22.64 billion, a P/E ratio of 8.98, a PEG ratio of 3.61 and a beta of 1.90. Halliburton has a one year low of $25.66 and a one year high of $41.56. The business’s 50 day simple moving average is $29.45 and its 200-day simple moving average is $31.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. As a group, sell-side analysts predict that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is presently 23.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in shares of Halliburton by 3.1% in the second quarter. Assenagon Asset Management S.A. now owns 22,629 shares of the oilfield services company’s stock valued at $764,000 after purchasing an additional 675 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Halliburton by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 93,233 shares of the oilfield services company’s stock valued at $3,149,000 after purchasing an additional 441 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $330,000. Vinland Capital Management Gestora de Recursos LTDA. raised its stake in shares of Halliburton by 39.1% during the 2nd quarter. Vinland Capital Management Gestora de Recursos LTDA. now owns 57,600 shares of the oilfield services company’s stock worth $1,946,000 after purchasing an additional 16,200 shares in the last quarter. Finally, &PARTNERS boosted its holdings in shares of Halliburton by 17.6% in the 2nd quarter. &PARTNERS now owns 15,845 shares of the oilfield services company’s stock valued at $535,000 after buying an additional 2,373 shares during 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.