Barclays Cuts Halliburton (NYSE:HAL) Price Target to $47.00

Halliburton (NYSE:HAL) had its target price trimmed by Barclays from $48.00 to $47.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Halliburton in a report on Monday, July 22nd. Evercore ISI cut their price objective on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley decreased their target price on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. UBS Group reduced their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group decreased their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Four equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.74.

Halliburton Stock Down 2.1 %

Shares of NYSE HAL opened at $28.34 on Wednesday. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company’s 50 day moving average price is $30.00 and its 200-day moving average price is $33.74. The company has a market capitalization of $25.09 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. Equities analysts forecast that Halliburton will post 3.13 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.40%. Halliburton’s dividend payout ratio is currently 23.53%.

Institutional Investors Weigh In On Halliburton

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after buying an additional 19,237,784 shares during the period. Pacer Advisors Inc. grew its position in shares of Halliburton by 17,317.6% during 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 acquiring an additional 13,552,927 shares during the period. LSV Asset Management increased its stake in shares of Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 valued at $340,752,000 after purchasing an additional 1,681,620 shares during the period. 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.