Halliburton (NYSE:HAL) PT Lowered to $39.00 at Wells Fargo & Company

Halliburton (NYSE:HAL) had its target price trimmed by Wells Fargo & Company from $46.00 to $39.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the oilfield services company’s stock.

Several other research analysts also recently weighed in on HAL. UBS Group dropped their target price on shares of Halliburton from $41.00 to $37.00 and set a buy rating for the company in a report on Wednesday, September 18th. Evercore ISI dropped their price objective on Halliburton from $52.00 to $48.00 and set an outperform rating for the company in a research note on Monday, July 22nd. Citigroup cut their target price on Halliburton from $50.00 to $45.00 and set a buy rating for the company in a research report on Friday, June 28th. The Goldman Sachs Group lowered their price target on Halliburton from $47.00 to $40.00 and set a buy rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley cut their price objective on shares of Halliburton from $45.00 to $35.00 and set an overweight rating for the company in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $42.56.

Halliburton Stock Performance

Shares of HAL opened at $28.64 on Wednesday. The business has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $34.66. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.02 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. On average, analysts expect that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. Halliburton’s payout ratio is 23.53%.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Halliburton

Large investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Halliburton during the 1st quarter valued at about $26,000. Johnson Financial Group Inc. purchased a new position in shares of Halliburton during the fourth quarter worth approximately $33,000. Bruce G. Allen Investments LLC raised its stake in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Halliburton by 286.2% in the fourth quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock valued at $43,000 after purchasing an additional 890 shares during the period. Finally, Crewe Advisors LLC bought a new position in Halliburton in the first quarter worth approximately $46,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.