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

Raymond James lowered shares of Halliburton (NYSE:HAL) from a strong-buy rating to a market perform rating in a research report released on Monday morning, MarketBeat reports.

A number of other analysts have also commented on the stock. Barclays reaffirmed an “equal weight” rating and set a $33.00 price objective (down from $43.00) on shares of Halliburton in a research note on Wednesday, December 18th. Dbs Bank began coverage on shares of Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group cut their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. Finally, BMO Capital Markets lowered their price target on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.95.

Halliburton Stock Down 2.8 %

HAL stock opened at $26.97 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The firm has a market cap of $23.69 billion, a PE ratio of 9.40, a P/E/G ratio of 3.55 and a beta of 1.91. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The firm has a 50 day simple moving average of $29.01 and a 200 day simple moving average of $30.41.

Halliburton (NYSE:HAL) last released 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). The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. Equities research analysts forecast that Halliburton will post 3 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.52%. The ex-dividend date was Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Institutional Trading of Halliburton

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Country Trust Bank acquired a new position in shares of Halliburton during the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new position in Halliburton during the fourth quarter valued at approximately $38,000. Continuum Advisory LLC raised its position in shares of Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton in the third quarter worth $44,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds 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.