Halliburton (NYSE:HAL) Cut to Market Perform at Raymond James

Halliburton (NYSE:HAL) was downgraded by equities researchers at Raymond James from a “strong-buy” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat.com reports.

Several other research firms have also commented on HAL. JPMorgan Chase & Co. decreased their target price on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Morgan Stanley lowered their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Susquehanna reduced their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Piper Sandler assumed coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.95.

Halliburton Stock Up 0.1 %

NYSE HAL opened at $27.70 on Monday. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 3.55 and a beta of 1.91. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $29.02 and a 200-day moving average of $30.43.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, equities research analysts expect that Halliburton will post 3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HAL. Pacer Advisors Inc. raised its position in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares during the last quarter. Franklin Resources Inc. increased its position in 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 period. LSV Asset Management raised its holdings in Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Halliburton in the 3rd quarter worth approximately $55,132,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Halliburton by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares during the last quarter. 85.23% of the stock is 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.