Barclays Reiterates Equal Weight Rating for Halliburton (NYSE:HAL)

Barclays restated their equal weight rating on shares of Halliburton (NYSE:HAL) in a report issued on Wednesday morning, MarketBeat Ratings reports. Barclays currently has a $33.00 target price on the oilfield services company’s stock, down from their previous target price of $43.00.

Other analysts also recently issued research reports about the stock. Raymond James lowered their target price on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Jefferies Financial Group reduced their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. BMO Capital Markets dropped their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada downgraded Halliburton from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $44.00 to $37.00 in a report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.58.

Halliburton Stock Up 0.8 %

Halliburton stock opened at $25.97 on Wednesday. The stock has a 50 day moving average of $29.35 and a two-hundred day moving average of $31.02. Halliburton has a twelve month low of $25.51 and a twelve month high of $41.56. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.61 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. As a group, research analysts expect that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 23.69%.

Hedge Funds Weigh In On Halliburton

A number of institutional investors have recently modified their holdings of the company. Country Trust Bank acquired a new stake in Halliburton during the third quarter worth approximately $36,000. Continuum Advisory LLC boosted its holdings in shares of Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Halliburton in the third quarter valued at $44,000. Venturi Wealth Management LLC lifted its position in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after buying an additional 393 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.