Halliburton (NYSE:HAL) Given New $34.00 Price Target at Morgan Stanley

Halliburton (NYSE:HAL) had its price target cut by equities researchers at Morgan Stanley from $35.00 to $34.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s price objective indicates a potential upside of 12.99% from the stock’s previous close.

A number of other brokerages also recently weighed in on HAL. Wells Fargo & Company lowered their target price on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Jefferies Financial Group lowered their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna lowered their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Finally, Raymond James lowered their target price on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Price Performance

HAL stock opened at $30.09 on Monday. The company has a fifty day moving average price of $29.14 and a 200-day moving average price of $32.17. The company has a market capitalization of $26.43 billion, a P/E ratio of 10.48, a PEG ratio of 3.64 and a beta of 1.89. Halliburton has a 52-week low of $27.26 and a 52-week high of $41.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last released its quarterly 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). The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. Halliburton’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. As a group, equities analysts expect that Halliburton will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HAL. TIAA Trust National Association acquired a new position in shares of Halliburton during the first quarter valued at about $202,000. Edgestream Partners L.P. lifted its position in shares of Halliburton by 138.4% during the first quarter. Edgestream Partners L.P. now owns 22,485 shares of the oilfield services company’s stock valued at $886,000 after purchasing an additional 13,055 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Halliburton by 346.3% during the first quarter. UniSuper Management Pty Ltd now owns 37,051 shares of the oilfield services company’s stock valued at $1,461,000 after purchasing an additional 28,749 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Halliburton by 18.7% during the first quarter. Lake Street Advisors Group LLC now owns 12,249 shares of the oilfield services company’s stock valued at $483,000 after purchasing an additional 1,931 shares in the last quarter. Finally, Pitcairn Co. lifted its position in shares of Halliburton by 2.3% during the first quarter. Pitcairn Co. now owns 18,118 shares of the oilfield services company’s stock valued at $714,000 after purchasing an additional 406 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.