Evercore ISI Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price objective reduced by analysts at Evercore ISI from $43.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oilfield services company’s stock. Evercore ISI’s target price would indicate a potential upside of 22.98% from the company’s previous close.

HAL has been the topic of several other reports. Barclays reissued an “equal weight” rating and issued a $33.00 target price (down from $43.00) on shares of Halliburton in a research report on Wednesday, December 18th. Jefferies Financial Group lowered their price target on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Dbs Bank began coverage on shares of Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average price target of $38.26.

Halliburton Stock Up 0.9 %

Shares of HAL stock traded up $0.26 during trading hours on Wednesday, reaching $28.46. 516,960 shares of the company’s stock were exchanged, compared to its average volume of 8,368,531. 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 stock’s 50 day moving average is $28.96 and its 200-day moving average is $30.20. Halliburton has a fifty-two week low of $25.51 and a fifty-two week high of $41.56. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 3.55 and a beta of 1.91.

Halliburton (NYSE:HAL) last released 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 net margin of 11.04% and a return on equity of 28.33%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the previous year, the company earned $0.79 earnings per share. Halliburton’s revenue was down 1.8% on a year-over-year basis. Analysts predict that Halliburton will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

A number of hedge funds have recently made changes to their positions in HAL. Country Trust Bank purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $36,000. Modus Advisors LLC purchased a new position in shares of Halliburton during the 4th quarter worth approximately $38,000. Continuum Advisory LLC boosted its position in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC purchased a new position in Halliburton in the 3rd quarter valued at approximately $44,000. Finally, Venturi Wealth Management LLC boosted its position in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after buying an additional 412 shares during the period. 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.