Stifel Nicolaus Lowers Halliburton (NYSE:HAL) Price Target to $32.00

Halliburton (NYSE:HAL) had its price objective reduced by analysts at Stifel Nicolaus from $37.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price target points to a potential upside of 51.01% from the stock’s previous close.

A number of other equities analysts have also weighed in on HAL. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on Halliburton from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Evercore ISI reduced their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $34.68.

Halliburton Price Performance

NYSE:HAL opened at $21.19 on Wednesday. The firm has a market cap of $18.27 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45. The stock has a 50 day moving average of $23.86 and a two-hundred day moving average of $26.87. Halliburton has a 12 month low of $18.72 and a 12 month high of $38.91. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 22nd. The oilfield services company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.28 billion. On average, analysts expect that Halliburton will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Halliburton

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the completion of the transaction, the chief financial officer now owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Margaret Katherine Banks sold 3,900 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total value of $93,756.00. Following the sale, the director now directly owns 10,551 shares in the company, valued at $253,646.04. This represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock valued at $5,321,170 in the last three months. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

Institutional investors and hedge funds have recently made changes to their positions in the stock. HBW Advisory Services LLC lifted its stake in Halliburton by 3.9% in the fourth quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock worth $286,000 after acquiring an additional 397 shares during the last quarter. Blume Capital Management Inc. lifted its position in shares of Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after purchasing an additional 400 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Halliburton by 3.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 12,776 shares of the oilfield services company’s stock worth $347,000 after purchasing an additional 453 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Halliburton by 0.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 84,675 shares of the oilfield services company’s stock valued at $2,302,000 after buying an additional 484 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Halliburton by 14.3% during the 4th quarter. UMB Bank n.a. now owns 4,036 shares of the oilfield services company’s stock worth $110,000 after acquiring an additional 505 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.