Evercore ISI Cuts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its target price reduced by Evercore ISI from $52.00 to $48.00 in a research note released on Monday, Marketbeat reports. They currently have an outperform rating on the oilfield services company’s stock.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Halliburton from $45.00 to $40.00 and set an overweight rating on the stock in a research note on Monday. TD Cowen dropped their price objective on shares of Halliburton from $47.00 to $45.00 and set a buy rating on the stock in a research note on Monday. Stifel Nicolaus dropped their price objective on shares of Halliburton from $47.00 to $46.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. Benchmark reiterated a buy rating and set a $42.00 price objective on shares of Halliburton in a research note on Monday. Finally, Bank of America dropped their price objective on shares of Halliburton from $45.00 to $41.00 and set a buy rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Halliburton currently has a consensus rating of Moderate Buy and an average price target of $45.53.

Halliburton Trading Up 3.6 %

Shares of HAL stock opened at $34.18 on Monday. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.93. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a fifty-two week low of $32.60 and a fifty-two week high of $43.85. The firm’s 50 day moving average price is $34.53 and its two-hundred day moving average price is $36.05.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. On average, analysts anticipate that Halliburton will post 3.22 EPS for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.68 annualized dividend and a yield of 1.99%. Halliburton’s payout ratio is 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the transaction, the insider now directly owns 130,783 shares of the company’s stock, valued at approximately $4,828,508.36. The disclosure for this sale can be found here. Insiders sold a total of 62,287 shares of company stock worth $2,298,204 over the last 90 days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of Halliburton by 19.1% during the fourth quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock valued at $42,642,000 after acquiring an additional 189,324 shares during the period. Cerity Partners LLC lifted its holdings in Halliburton by 69.5% in the fourth quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock worth $7,472,000 after purchasing an additional 84,771 shares during the period. KLCM Advisors Inc. lifted its holdings in Halliburton by 6.9% in the fourth quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock worth $17,722,000 after purchasing an additional 31,534 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Halliburton in the first quarter worth about $1,908,000. Finally, GAMMA Investing LLC lifted its holdings in Halliburton by 10.9% in the first quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock worth $329,000 after purchasing an additional 819 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.