Barclays cut shares of Halliburton (NYSE:HAL) from an overweight rating to an equal weight rating in a report released on Monday, BenzingaRatingsTable reports. They currently have $23.00 target price on the oilfield services company’s stock, down from their prior target price of $31.00.
Other analysts have also issued reports about the company. Cowen reissued an outperform rating and issued a $35.00 price objective (up from $33.00) on shares of Halliburton in a report on Tuesday, July 23rd. Bank of America lowered their price objective on Halliburton from $24.00 to $23.00 and set a buy rating for the company in a report on Thursday, September 5th. Edward Jones downgraded Halliburton from a buy rating to a hold rating in a research note on Monday, June 10th. Wells Fargo & Co decreased their target price on Halliburton from $30.00 to $26.00 and set an outperform rating for the company in a research note on Thursday, September 12th. Finally, AltaCorp Capital restated a sector perform rating on shares of Halliburton in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Halliburton presently has an average rating of Buy and an average target price of $36.64.
Shares of Halliburton stock opened at $20.81 on Monday. The company has a quick ratio of 1.59, a current ratio of 2.26 and a debt-to-equity ratio of 1.16. The firm has a market cap of $18.19 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.42 and a beta of 1.37. Halliburton has a fifty-two week low of $16.97 and a fifty-two week high of $42.57. The business has a 50-day moving average price of $19.51 and a 200 day moving average price of $24.34.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.97 billion. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. Halliburton’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, equities research analysts anticipate that Halliburton will post 1.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.46%. Halliburton’s dividend payout ratio is presently 37.89%.
In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of Halliburton stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $309,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HAL. Geode Capital Management LLC boosted its position in shares of Halliburton by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,955,241 shares of the oilfield services company’s stock worth $264,077,000 after buying an additional 683,635 shares during the period. United Bank boosted its position in shares of Halliburton by 4.9% during the first quarter. United Bank now owns 12,345 shares of the oilfield services company’s stock worth $362,000 after buying an additional 574 shares during the period. Victory Capital Management Inc. boosted its position in shares of Halliburton by 687.1% during the first quarter. Victory Capital Management Inc. now owns 102,132 shares of the oilfield services company’s stock worth $2,992,000 after buying an additional 89,156 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Halliburton by 3.1% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 60,096 shares of the oilfield services company’s stock worth $1,760,000 after buying an additional 1,809 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Halliburton during the first quarter worth approximately $221,000. Institutional investors and hedge funds own 77.60% of the company’s stock.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
Further Reading: What is the G-20?
Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.