Halliburton (NYSE:HAL) Earns “Equal Weight” Rating from Barclays

Halliburton (NYSE:HAL)‘s stock had its “equal weight” rating restated by Barclays in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $33.00 price target on the oilfield services company’s stock, down from their prior price target of $43.00. Barclays‘s price target suggests a potential upside of 28.06% from the stock’s current price.

A number of other equities research analysts also recently issued reports on HAL. Bank of America reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus dropped their price target on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Dbs Bank assumed coverage on Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price for the company. Finally, BMO Capital Markets cut their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.58.

Halliburton Stock Performance

Shares of HAL opened at $25.77 on Wednesday. Halliburton has a 52 week low of $25.66 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. The stock has a 50 day moving average price of $29.45 and a two-hundred day moving average price of $31.08. The firm has a market capitalization of $22.64 billion, a P/E ratio of 8.98, a P/E/G ratio of 3.61 and a beta of 1.90.

Halliburton (NYSE:HAL) last issued its quarterly earnings data 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 11.04% and a return on equity of 28.33%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter last year, the business posted $0.79 earnings per share. Halliburton’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Halliburton will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Halliburton

A number of institutional investors and hedge funds have recently modified their holdings of HAL. Principal Financial Group Inc. grew its stake in Halliburton by 2.3% during the third quarter. Principal Financial Group Inc. now owns 2,889,257 shares of the oilfield services company’s stock valued at $83,933,000 after acquiring an additional 63,994 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Halliburton by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 195,873 shares of the oilfield services company’s stock valued at $5,690,000 after purchasing an additional 587 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Halliburton by 244.5% in the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Halliburton in the third quarter worth $358,000. Finally, World Investment Advisors LLC boosted its stake in Halliburton by 49.5% during the third quarter. World Investment Advisors LLC now owns 9,161 shares of the oilfield services company’s stock valued at $266,000 after buying an additional 3,032 shares during the period. 85.23% of the stock is owned by hedge funds and other 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.