JPMorgan Chase & Co. Cuts Halliburton (NYSE:HAL) Price Target to $33.00

Halliburton (NYSE:HAL) had its price objective reduced by JPMorgan Chase & Co. from $35.00 to $33.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other research firms have also commented on HAL. Griffin Securities lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler assumed coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. BMO Capital Markets reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Susquehanna reduced their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Finally, Raymond James reduced their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.95.

Halliburton Stock Down 0.2 %

Halliburton stock opened at $27.68 on Thursday. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The firm has a market capitalization of $24.32 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 3.55 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The firm has a 50 day simple moving average of $29.02 and a 200 day simple moving average of $30.55.

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

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 23.69%.

Institutional Trading of Halliburton

Several hedge funds have recently added to or reduced their stakes in the business. MidWestOne Financial Group Inc. raised its stake in shares of Halliburton by 4.4% during the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after acquiring an additional 390 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares during the last quarter. Northwest Bank & Trust Co raised its stake in shares of Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after acquiring an additional 397 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Halliburton by 34.2% during 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 during the last quarter. 85.23% of the stock is owned by 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.