Evercore ISI Lowers Halliburton (NYSE:HAL) Price Target to $35.00

Halliburton (NYSE:HAL) had its price target reduced by Evercore ISI from $43.00 to $35.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the oilfield services company’s stock.

Several other brokerages have also weighed in on HAL. Barclays reaffirmed an “equal weight” rating and set a $33.00 target price (down previously from $43.00) on shares of Halliburton in a research note on Wednesday, December 18th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Halliburton in a report on Friday, November 8th. Griffin Securities cut Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group cut their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.26.

Halliburton Stock Down 0.7 %

Shares of NYSE HAL opened at $28.72 on Wednesday. The company has a market capitalization of $25.23 billion, a P/E ratio of 10.01, a P/E/G ratio of 3.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The company has a 50 day simple moving average of $28.96 and a 200-day simple moving average of $30.20. Halliburton has a 1 year low of $25.51 and a 1 year high of $41.56.

Halliburton (NYSE:HAL) last posted 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 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the business earned $0.79 EPS. Halliburton’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Halliburton will post 2.99 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. Halliburton’s payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

Several institutional investors have recently added to or reduced their stakes in the business. Country Trust Bank acquired a new stake in Halliburton during the third quarter worth approximately $36,000. Modus Advisors LLC purchased a new position in shares of Halliburton in the 4th quarter valued at $38,000. Continuum Advisory LLC raised its stake in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after acquiring an additional 698 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Halliburton in the third quarter valued at $44,000. Finally, Venturi Wealth Management LLC boosted its stake in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares in the last quarter. Hedge funds and other 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.