Halliburton (NYSE:HAL) Price Target Lowered to $34.00 at Morgan Stanley

Halliburton (NYSE:HAL) had its price target lowered by equities research analysts at Morgan Stanley from $35.00 to $34.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s price objective suggests a potential upside of 12.99% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays lowered their price target on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Piper Sandler lowered their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group lowered their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Stifel Nicolaus lowered their price target on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Trading Up 1.3 %

Shares of NYSE:HAL opened at $30.09 on Monday. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $29.14 and its 200 day simple moving average is $32.17. The firm has a market cap of $26.43 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 3.64 and a beta of 1.89.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Halliburton will post 3.02 EPS for the current fiscal year.

Institutional Trading of Halliburton

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in shares of Halliburton during the 3rd quarter worth about $724,000. Coldstream Capital Management Inc. lifted its holdings in shares of Halliburton by 13.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,954 shares of the oilfield services company’s stock worth $408,000 after acquiring an additional 1,658 shares during the period. Geode Capital Management LLC increased its position in Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock worth $597,234,000 after purchasing an additional 172,505 shares in the last quarter. MidWestOne Financial Group Inc. increased its position in Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after purchasing an additional 359 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in Halliburton by 101.2% during the 3rd 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 in the last quarter. Institutional investors own 85.23% of the company’s stock.

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.