Barclays Cuts Halliburton (NYSE:HAL) Price Target to $30.00

Halliburton (NYSE:HAL) had its price objective decreased by Barclays from $32.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s price objective indicates a potential upside of 7.81% from the stock’s current price.

HAL has been the subject of a number of other reports. Stifel Nicolaus dropped their price objective on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday, October 11th. Morgan Stanley dropped their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company decreased their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Halliburton Stock Down 0.5 %

Shares of NYSE:HAL opened at $27.83 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.62 and a debt-to-equity ratio of 0.68. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 3.58 and a beta of 1.91. The stock’s 50-day moving average price is $28.85 and its two-hundred day moving average price is $30.03. Halliburton has a 12-month low of $25.51 and a 12-month high of $41.56.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Halliburton’s revenue was down 1.8% on a year-over-year basis. On average, research analysts forecast that Halliburton will post 2.94 EPS for the current year.

Institutional Trading of Halliburton

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cary Street Partners Asset Management LLC grew its holdings in Halliburton by 56.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after acquiring an additional 56,707 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Halliburton by 105.2% during the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares during the last quarter. Pacer Advisors Inc. grew its stake in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. Quest Partners LLC increased its holdings in Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after buying an additional 75,275 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Halliburton during the third quarter valued at approximately $1,181,000. Institutional investors own 85.23% of the company’s stock.

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.