Halliburton (NYSE:HAL) Price Target Raised to $29.00

Halliburton (NYSE:HAL) had its price objective hoisted by Susquehanna from $27.00 to $29.00 in a research report released on Wednesday, MarketBeat.com reports. Susquehanna currently has a positive rating on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. HSBC set a $30.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Wednesday. Barclays decreased their price objective on Halliburton from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company decreased their price target on Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Bank of America raised their price target on Halliburton from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Melius started coverage on Halliburton in a research note on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.40.

Halliburton Stock Down 2.4%

NYSE:HAL opened at $26.57 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.47 and a current ratio of 1.95. The company has a market cap of $22.66 billion, a PE ratio of 17.60 and a beta of 1.02. Halliburton has a 52-week low of $18.72 and a 52-week high of $32.57. The stock has a 50-day simple moving average of $23.09 and a 200 day simple moving average of $21.83.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.Halliburton’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, sell-side analysts expect that Halliburton will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton’s dividend payout ratio (DPR) is presently 31.78%.

Institutional Trading of Halliburton

Hedge funds have recently made changes to their positions in the business. Stone House Investment Management LLC acquired a new stake in shares of Halliburton in the first quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 656 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Halliburton during the 1st quarter worth approximately $37,000. Finally, Rakuten Securities Inc. lifted its holdings in Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after purchasing an additional 1,341 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.