Halliburton (NYSE:HAL) Price Target Lowered to $37.00 at Raymond James

Halliburton (NYSE:HAL) had its price objective cut by Raymond James from $41.00 to $37.00 in a research note released on Friday,Benzinga reports. They currently have a strong-buy rating on the oilfield services company’s stock.

A number of other research firms have also commented on HAL. Piper Sandler lowered their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a report on Friday, July 19th. TD Cowen dropped their price target on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday. Finally, Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $44.00 to $37.00 in a research report on Friday, September 13th. Four research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.79.

Halliburton Stock Down 1.1 %

Shares of NYSE HAL traded down $0.32 during mid-day trading on Friday, reaching $29.23. 9,742,008 shares of the company’s stock traded hands, compared to its average volume of 8,816,506. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The business has a 50-day simple moving average of $29.10 and a 200 day simple moving average of $32.53. The stock has a market cap of $25.81 billion, a P/E ratio of 9.71, a PEG ratio of 2.01 and a beta of 1.89. Halliburton has a 1-year low of $27.26 and a 1-year high of $41.56.

Halliburton (NYSE:HAL) last released 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). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, analysts expect that Halliburton will post 3.12 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 22.59%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Halliburton by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after buying an additional 295 shares in the last quarter. Beacon Capital Management LLC raised its holdings in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after acquiring an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of Halliburton by 3.1% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after acquiring an additional 330 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after purchasing an additional 336 shares in the last quarter. Finally, Northwest Bank & Trust Co increased its position in shares of Halliburton by 3.2% in the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after purchasing an additional 397 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.