Halliburton (NYSE:HAL) Price Target Cut to $27.00 by Analysts at Cowen

Halliburton (NYSE:HAL) had its target price cut by equities research analysts at Cowen from $28.00 to $27.00 in a report released on Tuesday, MarketBeat reports. The firm currently has an “outperform” rating on the oilfield services company’s stock. Cowen’s target price indicates a potential upside of 33.60% from the stock’s current price.

Other analysts also recently issued reports about the company. Citigroup cut their target price on Halliburton from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Barclays cut Halliburton from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $31.00 to $23.00 in a report on Monday, September 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Halliburton in a report on Friday, October 11th. Credit Suisse Group lowered their price target on Halliburton from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, Bank of America lowered their price target on Halliburton from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.78.

Shares of HAL opened at $20.21 on Tuesday. Halliburton has a 52-week low of $16.97 and a 52-week high of $36.51. The company has a market capitalization of $17.43 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. The stock has a fifty day simple moving average of $19.33 and a two-hundred day simple moving average of $22.59. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 1.13.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 21st. The oilfield services company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Halliburton had a return on equity of 12.03% and a net margin of 5.12%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $0.50 EPS. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Halliburton will post 1.25 earnings per share for the current fiscal year.

In other news, Director William E. Albrecht bought 8,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $19.35 per share, for a total transaction of $154,800.00. Following the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $309,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Regent Investment Management LLC boosted its holdings in Halliburton by 4.2% during the 2nd quarter. Regent Investment Management LLC now owns 11,150 shares of the oilfield services company’s stock valued at $254,000 after acquiring an additional 445 shares during the period. EagleClaw Capital Managment LLC boosted its holdings in Halliburton by 1.7% during the 2nd quarter. EagleClaw Capital Managment LLC now owns 29,426 shares of the oilfield services company’s stock valued at $669,000 after acquiring an additional 500 shares during the period. ELCO Management Co. LLC boosted its holdings in Halliburton by 1.0% during the 2nd quarter. ELCO Management Co. LLC now owns 48,310 shares of the oilfield services company’s stock valued at $1,099,000 after acquiring an additional 500 shares during the period. Lee Financial Co boosted its holdings in Halliburton by 17.9% during the 2nd quarter. Lee Financial Co now owns 3,558 shares of the oilfield services company’s stock valued at $81,000 after acquiring an additional 539 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Halliburton by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 92,441 shares of the oilfield services company’s stock valued at $2,102,000 after acquiring an additional 543 shares during the period. Institutional investors own 77.61% of the company’s stock.

About Halliburton

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.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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