Halliburton (NYSE:HAL) Given New $37.00 Price Target at Raymond James

Halliburton (NYSE:HAL) had its target price dropped by research analysts at Raymond James from $41.00 to $37.00 in a report released on Friday,Benzinga reports. The firm currently has a “strong-buy” rating on the oilfield services company’s stock. Raymond James’ target price would suggest a potential upside of 26.58% from the stock’s previous close.

Several other research firms have also recently weighed in on HAL. Morgan Stanley cut their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Susquehanna reduced their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday. Barclays lowered their price objective on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group reduced their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, TD Cowen lowered their price target on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.79.

Halliburton Price Performance

HAL traded down $0.32 during trading on Friday, reaching $29.23. 9,742,008 shares of the company traded hands, compared to its average volume of 8,816,506. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The firm has a fifty day simple moving average of $29.10 and a 200 day simple moving average of $32.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company has a market cap of $25.81 billion, a P/E ratio of 10.18, a PEG ratio of 2.01 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts forecast that Halliburton will post 3.12 EPS for the current year.

Institutional Trading of Halliburton

Institutional investors and hedge funds have recently modified their holdings of the stock. Country Trust Bank bought a new position in Halliburton during the 3rd quarter worth about $36,000. Bruce G. Allen Investments LLC raised its stake in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after buying an additional 822 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Halliburton during the third quarter worth $44,000. Crewe Advisors LLC bought a new stake in Halliburton during the 1st quarter valued at $46,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the period. Institutional investors own 85.23% of the company’s stock.

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.