Halliburton (NYSE:HAL) Price Target Cut to $30.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its target price lowered by equities researchers at Barclays from $32.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s price target would suggest a potential upside of 5.03% from the company’s current price.

A number of other brokerages also recently weighed in on HAL. Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target on the stock. Susquehanna lowered their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Evercore ISI cut their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Finally, 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 research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.11.

Halliburton Stock Down 3.3 %

HAL stock opened at $28.56 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. The firm has a market capitalization of $25.09 billion, a P/E ratio of 9.95, a P/E/G ratio of 3.72 and a beta of 1.91. Halliburton has a 52-week low of $25.51 and a 52-week high of $41.56. The company’s 50 day simple moving average is $28.89 and its 200-day simple moving average is $30.04.

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

Institutional Investors Weigh In On Halliburton

A number of hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after buying an additional 3,203,224 shares during the last quarter. Pacer Advisors Inc. grew its position in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after acquiring an additional 3,150,986 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Halliburton during the 3rd quarter valued at $55,132,000. Thrivent Financial for Lutherans raised its position in Halliburton by 22.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock valued at $160,367,000 after purchasing an additional 995,649 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Halliburton by 127.2% in the second quarter. AQR Capital Management LLC now owns 1,557,130 shares of the oilfield services company’s stock worth $52,600,000 after purchasing an additional 871,789 shares in the last quarter. Institutional investors and hedge funds 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.