Halliburton (NYSE:HAL) Price Target Cut to $38.00 by Analysts at Bank of America

Halliburton (NYSE:HAL) had its price target lowered by Bank of America from $40.00 to $38.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

Several other analysts have also recently issued reports on HAL. Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. TD Cowen reduced their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group lowered their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. BMO Capital Markets reduced 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. Finally, Stifel Nicolaus decreased their price target on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Four equities research 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 stock. According to MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $41.74.

Halliburton Stock Performance

HAL opened at $29.30 on Monday. The company has a 50 day simple moving average of $30.10 and a two-hundred day simple moving average of $33.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The firm has a market cap of $25.94 billion, a P/E ratio of 10.14, a PEG ratio of 1.04 and a beta of 1.88. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85.

Halliburton (NYSE:HAL) last issued its 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. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Equities analysts forecast that Halliburton will post 3.13 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

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 $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.32%. Halliburton’s dividend payout ratio is presently 23.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Halliburton during the 1st quarter worth about $26,000. Country Trust Bank purchased a new position in shares of Halliburton during the third quarter valued at approximately $36,000. Bruce G. Allen Investments LLC boosted its position in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Halliburton in the third quarter worth approximately $44,000. Finally, Crewe Advisors LLC bought a new stake in shares of Halliburton during the 1st quarter worth approximately $46,000. 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.