Halliburton (NYSE:HAL) Earns “Sector Perform” Rating from Royal Bank of Canada

Halliburton (NYSE:HAL)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $34.00 price objective on the oilfield services company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 19.40% from the company’s previous close.

HAL has been the subject of several other research reports. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler assumed coverage on shares of Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. Bank of America lowered their target price on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company cut their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Susquehanna reduced their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Price Performance

Shares of Halliburton stock traded down $0.01 during midday trading on Thursday, hitting $28.48. 3,746,078 shares of the company traded hands, compared to its average volume of 10,227,574. The stock has a market cap of $25.02 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 3.72 and a beta of 1.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The firm’s fifty day moving average price is $28.89 and its 200-day moving average price is $30.04. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56.

Halliburton (NYSE:HAL) last announced its quarterly earnings results 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). The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, sell-side analysts forecast that Halliburton will post 2.99 earnings per share for the current year.

Institutional Trading of Halliburton

Institutional investors have recently modified their holdings of the business. Country Trust Bank bought a new position in Halliburton in the 3rd quarter worth about $36,000. Modus Advisors LLC purchased a new position in Halliburton during the fourth quarter valued at approximately $38,000. Continuum Advisory LLC increased its holdings 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 acquiring an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter valued at $44,000. Finally, Venturi Wealth Management LLC boosted its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after purchasing an additional 412 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.