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

Halliburton (NYSE:HAL) had its price objective trimmed by Evercore ISI from $52.00 to $48.00 in a research note issued to investors on Monday, MarketBeat reports. The firm currently has an outperform rating on the oilfield services company’s stock.

Other research analysts have also issued reports about the company. TD Cowen dropped their price objective on Halliburton from $47.00 to $45.00 and set a buy rating for the company in a research note on Monday. The Goldman Sachs Group increased their price objective on Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Wells Fargo & Company dropped their price objective on Halliburton from $50.00 to $49.00 and set an overweight rating for the company in a research note on Monday, April 29th. Morgan Stanley increased their price objective on Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a research note on Tuesday, April 23rd. Finally, Benchmark reiterated a buy rating and set a $42.00 price objective on shares of Halliburton in a research note on Monday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $45.53.

Halliburton Stock Performance

Shares of NYSE HAL opened at $34.18 on Monday. The business has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $36.05. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.11 and a beta of 1.93. Halliburton has a one year low of $32.60 and a one year high of $43.85.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Sell-side analysts expect that Halliburton will post 3.22 EPS for the current year.

Halliburton Dividend Announcement

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

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the transaction, the insider now owns 130,783 shares in the company, valued at approximately $4,828,508.36. The disclosure for this sale can be found here. Insiders have 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.

Institutional Investors Weigh In On Halliburton

A number of hedge funds have recently modified their holdings of HAL. Rise Advisors LLC acquired a new stake in shares of Halliburton during the first quarter worth about $26,000. IAG Wealth Partners LLC acquired a new stake in Halliburton in the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in Halliburton in the 4th quarter valued at approximately $33,000. Princeton Global Asset Management LLC acquired a new stake in Halliburton in the 4th quarter valued at approximately $36,000. Finally, First United Bank & Trust acquired a new stake in Halliburton in the 4th quarter valued at approximately $36,000. 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.