JPMorgan Chase & Co. Issues Pessimistic Forecast for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $35.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.22% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Barclays reissued an “equal weight” rating and set a $33.00 price target (down previously from $43.00) on shares of Halliburton in a research report on Wednesday, December 18th. Piper Sandler initiated coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target on the stock. Morgan Stanley lowered their price objective on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Jefferies Financial Group reduced their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Halliburton in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $38.95.

Halliburton Trading Down 0.2 %

NYSE:HAL opened at $27.68 on Thursday. The business’s 50-day moving average is $29.03 and its two-hundred day moving average is $30.59. The firm has a market capitalization of $24.32 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 3.55 and a beta of 1.90. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Research analysts predict that Halliburton will post 3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MidWestOne Financial Group Inc. lifted its holdings in Halliburton by 4.4% in the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after purchasing an additional 359 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Halliburton by 0.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after acquiring an additional 390 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares in the last quarter. Northwest Bank & Trust Co increased its stake in shares of Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after acquiring an additional 397 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

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.