Halliburton (NYSE:HAL) Price Target Cut to $40.00 by Analysts at Susquehanna

Halliburton (NYSE:HAL) had its price objective decreased by analysts at Susquehanna from $42.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s price target would suggest a potential upside of 36.85% from the stock’s current price.

A number of other analysts have also commented on the stock. Evercore ISI lowered their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company decreased their price objective on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Piper Sandler reduced their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Finally, UBS Group cut their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and an average target price of $40.79.

Halliburton Trading Down 1.1 %

Shares of HAL traded down $0.32 during trading hours on Friday, hitting $29.23. 9,742,008 shares of the stock traded hands, compared to its average volume of 8,816,506. The business has a fifty day moving average of $29.10 and a 200-day moving average of $32.53. The firm has a market capitalization of $25.81 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.89. Halliburton has a 1-year low of $27.26 and a 1-year high of $41.56. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts expect that Halliburton will post 3.12 EPS for the current year.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Halliburton by 17,317.6% during the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after purchasing an additional 13,552,927 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Halliburton by 24,954.1% in the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after buying an additional 2,720,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after buying an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

About Halliburton

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.