Halliburton (NYSE:HAL) Price Target Lowered to $38.00 at BMO Capital Markets

Halliburton (NYSE:HAL) had its price target cut by BMO Capital Markets from $40.00 to $38.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market perform rating on the oilfield services company’s stock.

HAL has been the topic of a number of other reports. Dbs Bank assumed coverage on Halliburton in a research note on Wednesday, September 18th. They set a buy rating and a $45.00 target price on the stock. Barclays dropped their target price on shares of Halliburton from $54.00 to $48.00 and set an overweight rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group decreased their price target on shares of Halliburton from $47.00 to $46.00 and set a buy rating for the company in a research note on Tuesday, September 24th. Morgan Stanley dropped their price objective on Halliburton from $45.00 to $35.00 and set an overweight rating on the stock in a research note on Monday, September 16th. Finally, The Goldman Sachs Group decreased their target price on Halliburton from $47.00 to $40.00 and set a buy rating for the company in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of Moderate Buy and an average target price of $41.89.

Halliburton Stock Up 0.7 %

HAL stock traded up $0.22 during trading on Thursday, reaching $30.95. 643,321 shares of the stock were exchanged, compared to its average volume of 7,871,259. The firm’s 50 day moving average is $30.19 and its 200 day moving average is $34.14. The firm has a market cap of $27.32 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85.

Halliburton (NYSE:HAL) last posted its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts forecast that Halliburton will post 3.13 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.20%. Halliburton’s payout ratio is 22.59%.

Insider Buying and Selling at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after purchasing an additional 13,552,927 shares in the last quarter. LSV Asset Management boosted its position in shares of Halliburton by 24,954.1% in the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Halliburton by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after buying an additional 2,618,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after buying an additional 1,681,620 shares in the last quarter. Hedge funds and other institutional investors 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.