Halliburton (NYSE:HAL) Price Target Cut to $35.00 by Analysts at Benchmark

Halliburton (NYSE:HAL) had its price objective trimmed by Benchmark from $40.00 to $35.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

A number of other brokerages also recently weighed in on HAL. Stifel Nicolaus lowered their target price on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Griffin Securities lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Evercore ISI lowered their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. cut their price objective on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Stock Down 1.5 %

HAL opened at $28.05 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a one year low of $25.51 and a one year high of $41.56. The firm has a market capitalization of $24.64 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 3.72 and a beta of 1.91. The company has a fifty day moving average price of $28.89 and a 200-day moving average price of $30.04.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Halliburton will post 2.99 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is 23.69%.

Institutional Trading of Halliburton

Large investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Halliburton by 440.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,227 shares of the oilfield services company’s stock valued at $75,000 after buying an additional 1,815 shares during the period. AE Wealth Management LLC boosted its holdings in Halliburton by 77.6% in the second quarter. AE Wealth Management LLC now owns 10,863 shares of the oilfield services company’s stock valued at $367,000 after acquiring an additional 4,746 shares in the last quarter. Sei Investments Co. increased its position in Halliburton by 34.6% during the 2nd quarter. Sei Investments Co. now owns 201,100 shares of the oilfield services company’s stock valued at $6,793,000 after purchasing an additional 51,679 shares during the period. Ensign Peak Advisors Inc raised its holdings in Halliburton by 13.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 204,922 shares of the oilfield services company’s stock worth $6,922,000 after purchasing an additional 23,608 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Halliburton by 14,105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 67,475 shares of the oilfield services company’s stock worth $2,279,000 after purchasing an additional 67,000 shares during the period. 85.23% of the stock is owned by institutional investors.

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.