Halliburton (NYSE:HAL) Price Target Cut to $47.00 by Analysts at Barclays

Halliburton (NYSE:HAL) had its price objective reduced by Barclays from $48.00 to $47.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oilfield services company’s stock.

A number of other equities research analysts have also weighed in on the stock. UBS Group dropped their price objective on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Piper Sandler dropped their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Morgan Stanley dropped their price objective on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company dropped their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, Bank of America dropped their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $41.74.

Halliburton Price Performance

NYSE HAL opened at $29.30 on Wednesday. The firm’s fifty day simple moving average is $30.10 and its two-hundred day simple moving average is $33.85. 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 12-month low of $27.52 and a 12-month high of $43.85. The firm has a market capitalization of $25.94 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (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 business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that Halliburton will post 3.13 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.32%. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HAL. Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $2,408,171,000 after acquiring an additional 19,237,784 shares during the period. Pacer Advisors Inc. raised its position in shares of Halliburton by 17,317.6% during 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 during the last quarter. LSV Asset Management lifted its stake in 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 valued at $92,250,000 after buying an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Halliburton by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after buying an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Halliburton by 20.0% in 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. 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.