Halliburton (NYSE:HAL) Price Target Cut to $40.00 by Analysts at Susquehanna

Halliburton (NYSE:HAL) had its target price trimmed by Susquehanna from $42.00 to $40.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a positive rating on the oilfield services company’s stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. Stifel Nicolaus cut their target price on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. cut their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Jefferies Financial Group cut their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Four 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Trading Up 3.1 %

Halliburton stock opened at $30.15 on Friday. The stock has a market cap of $26.62 billion, a P/E ratio of 10.51, a PEG ratio of 1.93 and a beta of 1.89. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The firm’s fifty day moving average price is $29.10 and its 200-day moving average price is $32.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.54 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last announced 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 3.09 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.26%. Halliburton’s payout ratio is 23.69%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HAL. Csenge Advisory Group purchased a new position in shares of Halliburton during the first quarter valued at approximately $205,000. Geneos Wealth Management Inc. raised its holdings in shares of Halliburton by 127.4% during the first quarter. Geneos Wealth Management Inc. now owns 10,356 shares of the oilfield services company’s stock valued at $408,000 after purchasing an additional 5,802 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of Halliburton by 3.4% during the first quarter. Empirical Finance LLC now owns 32,292 shares of the oilfield services company’s stock valued at $1,273,000 after purchasing an additional 1,072 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Halliburton by 18.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,162 shares of the oilfield services company’s stock valued at $834,000 after purchasing an additional 3,238 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Halliburton during the first quarter valued at approximately $4,210,000. 85.23% of the stock is owned by hedge funds and other 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.