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

Halliburton (NYSE:HAL) had its price target cut by Barclays from $29.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s target price indicates a potential upside of 22.70% from the company’s current price.

HAL has been the topic of several other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price target on shares of Halliburton in a research note on Thursday, January 23rd. Susquehanna decreased their price target on shares of Halliburton from $35.00 to $32.00 and set a “positive” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Evercore ISI decreased their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James cut Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.68.

Halliburton Trading Up 2.8 %

NYSE:HAL opened at $21.19 on Wednesday. The company has a 50-day moving average price of $23.86 and a 200-day moving average price of $26.87. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 3.79 and a beta of 1.45. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 12 month low of $18.72 and a 12 month high of $38.91.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 22nd. The oilfield services company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.28 billion. Equities analysts predict that Halliburton will post 2.64 EPS for the current year.

Insider Activity at Halliburton

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. The trade was a 52.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy Mckeon sold 10,497 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the transaction, the vice president now owns 77,784 shares in the company, valued at approximately $1,913,486.40. This trade represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,782 shares of company stock worth $5,321,170 over the last quarter. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently made changes to their positions in the business. HBW Advisory Services LLC grew its position in Halliburton by 3.9% during the fourth quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock valued at $286,000 after buying an additional 397 shares during the period. Blume Capital Management Inc. grew its position in shares of Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after acquiring an additional 400 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Halliburton by 3.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 12,776 shares of the oilfield services company’s stock worth $347,000 after purchasing an additional 453 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Halliburton by 0.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 84,675 shares of the oilfield services company’s stock worth $2,302,000 after purchasing an additional 484 shares during the period. Finally, UMB Bank n.a. lifted its position in Halliburton by 14.3% during the fourth quarter. UMB Bank n.a. now owns 4,036 shares of the oilfield services company’s stock valued at $110,000 after purchasing an additional 505 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

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.