Barclays Issues Pessimistic Forecast for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target decreased by Barclays from $47.00 to $43.00 in a research note published on Friday,Benzinga reports. Barclays currently has an overweight rating on the oilfield services company’s stock.

HAL has been the topic of a number of other reports. TD Cowen dropped their target price on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Jefferies Financial Group reduced their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Halliburton in a report on Friday. Finally, Dbs Bank began coverage on Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Stock Down 1.1 %

NYSE HAL traded down $0.32 during trading hours on Friday, hitting $29.23. 9,742,008 shares of the company traded hands, compared to its average volume of 8,816,506. The stock has a market capitalization of $25.81 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.01 and a beta of 1.89. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The business’s 50-day moving average is $29.10 and its 200-day moving average is $32.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Halliburton will post 3.12 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 22.59%.

Institutional Trading of Halliburton

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Halliburton by 46.0% in 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 purchasing an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Halliburton by 17,317.6% in 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 buying an additional 13,552,927 shares in the last quarter. LSV Asset Management lifted its holdings 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 acquiring an additional 2,720,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Halliburton by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after acquiring an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Halliburton by 20.0% in the 2nd 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 last quarter. 85.23% of the stock is currently owned by 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.