Analysts Set Halliburton (NYSE:HAL) PT at $40.79

Halliburton (NYSE:HAL) has been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $40.79.

A number of brokerages have recently weighed in on HAL. JPMorgan Chase & Co. dropped their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Piper Sandler dropped their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Bank of America reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. UBS Group dropped their price objective on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group reduced their target price on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Country Trust Bank acquired a new position in Halliburton during the 3rd quarter worth $36,000. Bruce G. Allen Investments LLC raised its stake 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 purchasing an additional 822 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter valued at about $44,000. Finally, Crewe Advisors LLC acquired a new position in Halliburton during the 1st quarter valued at about $46,000. Institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 1.4 %

Shares of HAL stock opened at $29.69 on Wednesday. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The stock has a market cap of $26.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.64 and a beta of 1.89. The company’s 50-day moving average price is $29.14 and its 200-day moving average price is $32.17. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. As a group, equities analysts predict that Halliburton will post 3.02 earnings per share for the current year.

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.