Halliburton (NYSE:HAL) Price Target Lowered to $41.00 at Jefferies Financial Group

Halliburton (NYSE:HAL) had its price objective dropped by research analysts at Jefferies Financial Group from $43.00 to $41.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 48.17% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $34.00 in a report on Monday, December 9th. Barclays restated an “equal weight” rating and set a $33.00 target price (down from $43.00) on shares of Halliburton in a research report on Wednesday, December 18th. Dbs Bank assumed coverage on shares of Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective for the company. Susquehanna cut their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada cut shares of Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.95.

Halliburton Stock Down 0.2 %

Shares of NYSE:HAL traded down $0.06 during midday trading on Friday, reaching $27.67. The company’s stock had a trading volume of 1,757,658 shares, compared to its average volume of 3,968,396. Halliburton has a 12-month low of $25.51 and a 12-month high of $41.56. The firm has a market capitalization of $24.31 billion, a P/E ratio of 9.64, a PEG ratio of 3.55 and a beta of 1.90. The firm has a 50 day moving average of $29.03 and a 200-day moving average of $30.59. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

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

Institutional Investors Weigh In On Halliburton

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its position in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after buying an additional 13,552,927 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after buying an additional 3,203,224 shares during the last quarter. LSV Asset Management raised its position in Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after acquiring an additional 2,720,000 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Halliburton in the third quarter valued at approximately $55,132,000. Finally, Dimensional Fund Advisors LP increased its position in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other 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.