Halliburton (NYSE:HAL) Price Target Lowered to $35.00 at Evercore ISI

Halliburton (NYSE:HAL) had its target price reduced by Evercore ISI from $43.00 to $35.00 in a report published on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the oilfield services company’s stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Jefferies Financial Group dropped their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets reduced their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Dbs Bank initiated coverage on Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $38.26.

Halliburton Stock Performance

Shares of HAL stock opened at $29.96 on Wednesday. Halliburton has a 1 year low of $25.51 and a 1 year high of $41.56. 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 firm has a market cap of $26.32 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.36 and a beta of 1.91. The stock’s 50-day moving average is $28.93 and its two-hundred day moving average is $30.18.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm earned $0.79 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Halliburton will post 2.99 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is 23.69%.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Halliburton by 0.8% in the third quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after buying an additional 172,505 shares in the last quarter. Pacer Advisors Inc. raised its position in Halliburton by 23.1% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Halliburton by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock valued at $166,815,000 after purchasing an additional 115,504 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Halliburton by 22.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after purchasing an additional 995,649 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.