Piper Sandler Begins Coverage on Halliburton (NYSE:HAL)

Stock analysts at Piper Sandler started coverage on shares of Halliburton (NYSE:HAL) in a research note issued on Thursday, MarketBeat reports. The brokerage set an “overweight” rating and a $36.00 price target on the oilfield services company’s stock. Piper Sandler’s target price indicates a potential upside of 37.67% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Bank of America reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group dropped their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Susquehanna lowered their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.58.

Halliburton Price Performance

HAL opened at $26.15 on Thursday. The company has a fifty day moving average price of $29.55 and a two-hundred day moving average price of $31.12. The firm has a market capitalization of $22.97 billion, a PE ratio of 9.11, a P/E/G ratio of 3.61 and a beta of 1.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. Halliburton has a 52 week low of $26.11 and a 52 week high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings data 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 return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that Halliburton will post 3 earnings per share for the current year.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Halliburton by 17,317.6% during the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after buying an additional 13,552,927 shares during the period. Franklin Resources Inc. grew its stake in Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the period. LSV Asset Management increased its holdings in Halliburton by 24,954.1% in the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Halliburton in the third quarter valued at approximately $55,132,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares in the last quarter. Institutional investors and hedge funds 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.