Halliburton (NYSE:HAL) PT Lowered to $37.00

Halliburton (NYSE:HAL) had its price objective cut by UBS Group from $41.00 to $37.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the oilfield services company’s stock.

HAL has been the subject of several other reports. Bank of America dropped their price target on Halliburton from $41.00 to $40.00 and set a buy rating for the company in a research report on Monday, July 22nd. Evercore ISI reduced their target price on shares of Halliburton from $52.00 to $48.00 and set an outperform rating for the company in a research report on Monday, July 22nd. Morgan Stanley lowered their price target on shares of Halliburton from $45.00 to $35.00 and set an overweight rating on the stock in a research report on Monday, September 16th. Barclays cut their price objective on shares of Halliburton from $54.00 to $48.00 and set an overweight rating for the company in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered their target price on Halliburton from $50.00 to $47.00 and set a buy rating on the stock in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $43.17.

Halliburton Price Performance

Halliburton stock opened at $29.47 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company’s fifty day moving average price is $31.48 and its 200 day moving average price is $34.84. The stock has a market capitalization of $26.09 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.95 and a beta of 1.89. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts anticipate that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.31%. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in Halliburton by 19.1% in the 4th quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock valued at $42,642,000 after buying an additional 189,324 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Halliburton by 319.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock worth $1,385,000 after purchasing an additional 28,137 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Halliburton in the 1st quarter valued at about $1,908,000. GAMMA Investing LLC boosted its stake in shares of Halliburton by 10.9% in the 1st quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock valued at $329,000 after buying an additional 819 shares during the period. Finally, Stephens Inc. AR grew its position in shares of Halliburton by 622.1% during the fourth quarter. Stephens Inc. AR now owns 66,741 shares of the oilfield services company’s stock worth $2,413,000 after buying an additional 57,499 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.