Wells Fargo & Company Lowers Halliburton (NYSE:HAL) Price Target to $34.00

Halliburton (NYSE:HAL) had its price target cut by research analysts at Wells Fargo & Company from $39.00 to $34.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 23.86% from the company’s current price.

Other research analysts also recently issued research reports about the company. Susquehanna reduced their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Raymond James reduced their price target on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Barclays reduced their price target on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $34.00 in a report on Monday, December 9th. Finally, The Goldman Sachs Group cut their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.32.

Halliburton Trading Down 1.5 %

Shares of HAL traded down $0.42 during trading hours on Tuesday, hitting $27.45. The company had a trading volume of 976,394 shares, compared to its average volume of 8,105,449. The firm has a market cap of $24.11 billion, a P/E ratio of 9.57, a P/E/G ratio of 3.61 and a beta of 1.90. The stock’s 50 day moving average price is $29.69 and its 200 day moving average price is $31.22. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a 52-week low of $27.26 and a 52-week high of $41.56.

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

Institutional Trading of Halliburton

A number of hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its holdings in Halliburton by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 195,873 shares of the oilfield services company’s stock worth $5,690,000 after acquiring an additional 587 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock valued at $138,025,000 after purchasing an additional 3,203,224 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Halliburton in the 3rd quarter worth about $358,000. World Investment Advisors LLC increased its position in shares of Halliburton by 49.5% during the third quarter. World Investment Advisors LLC now owns 9,161 shares of the oilfield services company’s stock worth $266,000 after acquiring an additional 3,032 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Halliburton by 7.4% during the third quarter. Sanctuary Advisors LLC now owns 71,788 shares of the oilfield services company’s stock worth $2,293,000 after acquiring an additional 4,970 shares during the period. 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.