Barclays downgraded shares of Halliburton (NYSE:HAL) from an overweight rating to an equal weight rating in a research report released on Monday morning, BenzingaRatingsTable reports. The firm currently has $23.00 price target on the oilfield services company’s stock, down from their previous price target of $31.00.
HAL has been the topic of a number of other research reports. Piper Jaffray Companies set a $26.00 price target on Halliburton and gave the company a buy rating in a research note on Monday, July 1st. Credit Suisse Group dropped their price target on Halliburton from $33.00 to $27.00 and set an outperform rating on the stock in a research note on Tuesday, July 23rd. Stephens dropped their price target on Halliburton from $45.00 to $35.00 and set an overweight rating on the stock in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price target on Halliburton from $40.00 to $36.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Finally, Bank of America dropped their price target on Halliburton from $24.00 to $23.00 and set a buy rating on the stock in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. Halliburton has an average rating of Buy and an average target price of $36.64.
HAL opened at $20.92 on Monday. Halliburton has a 1-year low of $16.97 and a 1-year high of $42.57. The stock’s fifty day simple moving average is $19.47 and its 200 day simple moving average is $24.29. The company has a current ratio of 2.26, a quick ratio of 1.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $18.23 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.37.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts forecast that Halliburton will post 1.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, September 3rd. Halliburton’s payout ratio is 37.89%.
In other news, Director William E. Albrecht acquired 8,000 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Berman Capital Advisors LLC increased its position in Halliburton by 46.0% during the 1st quarter. Berman Capital Advisors LLC now owns 1,253 shares of the oilfield services company’s stock worth $36,000 after buying an additional 395 shares during the period. Asset Planning Services Ltd. grew its holdings in shares of Halliburton by 903.2% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock worth $29,000 after purchasing an additional 1,129 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Halliburton during the 2nd quarter worth $32,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Halliburton during the 2nd quarter worth $34,000. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Halliburton during the 1st quarter worth $48,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.
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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