Halliburton (NYSE:HAL) Given New $34.00 Price Target at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective cut by equities researchers at Morgan Stanley from $35.00 to $34.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s price target indicates a potential upside of 11.59% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $44.00 to $37.00 in a research report on Friday, September 13th. Susquehanna cut their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. UBS Group lowered their target price 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. Stifel Nicolaus cut their price target on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, BMO Capital Markets reduced their price target on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Stock Up 0.1 %

NYSE:HAL opened at $30.47 on Monday. The company has a market cap of $26.77 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 3.64 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The stock’s fifty day moving average price is $29.22 and its two-hundred day moving average price is $32.08. Halliburton has a 52-week low of $27.26 and a 52-week high of $41.56.

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 firm 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 company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, analysts anticipate that Halliburton will post 3.02 EPS for the current year.

Institutional Investors Weigh In On Halliburton

Large investors have recently made changes to their positions in the stock. TIAA Trust National Association bought a new position in Halliburton during the 1st quarter worth about $202,000. Edgestream Partners L.P. lifted its stake in Halliburton by 138.4% in the 1st quarter. Edgestream Partners L.P. now owns 22,485 shares of the oilfield services company’s stock valued at $886,000 after acquiring an additional 13,055 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in Halliburton by 346.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 37,051 shares of the oilfield services company’s stock worth $1,461,000 after acquiring an additional 28,749 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Halliburton by 18.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 12,249 shares of the oilfield services company’s stock worth $483,000 after acquiring an additional 1,931 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in shares of Halliburton by 2.3% in the first quarter. Pitcairn Co. now owns 18,118 shares of the oilfield services company’s stock valued at $714,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.