Halliburton (NYSE:HAL) Receives $40.79 Average PT from Brokerages

Halliburton (NYSE:HAL) has been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $40.74.

A number of research analysts have recently issued reports on the company. UBS Group reduced their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. BMO Capital Markets lowered their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley cut their target price on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Bank of America lowered their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th.

Halliburton Stock Up 0.1 %

Shares of HAL opened at $30.47 on Wednesday. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The stock has a 50 day simple moving average of $29.22 and a two-hundred day simple moving average of $32.08. The firm has a market cap of $26.77 billion, a P/E ratio of 10.62, a P/E/G ratio of 3.64 and a beta of 1.89.

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

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, December 4th. Halliburton’s payout ratio is currently 23.69%.

Hedge Funds Weigh In On Halliburton

Several large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. increased its position in Halliburton by 108.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,187 shares of the oilfield services company’s stock valued at $180,000 after buying an additional 3,215 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Halliburton during the third quarter valued at $724,000. Coldstream Capital Management Inc. increased its holdings in shares of Halliburton by 13.5% during the third quarter. Coldstream Capital Management Inc. now owns 13,954 shares of the oilfield services company’s stock valued at $408,000 after acquiring an additional 1,658 shares in the last quarter. Geode Capital Management LLC boosted its stake in Halliburton by 0.8% in 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. Finally, MidWestOne Financial Group Inc. grew 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 valued at $250,000 after purchasing an additional 359 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.