Barclays Lowers Halliburton (NYSE:HAL) Price Target to $31.00

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Halliburton (NYSE:HAL) had its price objective dropped by equities researchers at Barclays from $33.00 to $31.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Barclays‘s price target indicates a potential upside of 31.30% from the company’s previous close.

Several other research firms have also weighed in on HAL. Credit Suisse Group lowered their price target on Lennox International from $282.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday. Edward Jones lowered Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Cowen reaffirmed a “buy” rating and set a $32.00 price target on shares of Allegheny Technologies in a research report on Tuesday. Seaport Global Securities reaffirmed a “neutral” rating on shares of Owens Corning in a research report on Tuesday, April 23rd. Finally, Stephens reaffirmed a “buy” rating and set a $30.00 price target on shares of Veritex in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.58.

NYSE HAL traded down $0.13 during trading on Tuesday, hitting $23.61. The stock had a trading volume of 10,068,261 shares, compared to its average volume of 12,978,257. The firm has a market cap of $19.01 billion, a P/E ratio of 12.43, a PEG ratio of 2.83 and a beta of 1.30. The company has a 50-day moving average price of $22.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.22 and a quick ratio of 1.57. Halliburton has a 12 month low of $20.98 and a 12 month high of $43.05.

Halliburton (NYSE:HAL) last released its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. Sell-side analysts expect that Halliburton will post 1.31 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAL. Norges Bank bought a new stake in Halliburton in the 4th quarter valued at $236,595,000. Pzena Investment Management LLC lifted its position in shares of Halliburton by 95.4% during the 1st quarter. Pzena Investment Management LLC now owns 12,427,763 shares of the oilfield services company’s stock valued at $364,133,000 after acquiring an additional 6,067,846 shares during the period. Manning & Napier Group LLC bought a new stake in shares of Halliburton during the 1st quarter valued at $83,418,000. American Century Companies Inc. lifted its position in shares of Halliburton by 29.1% during the 4th quarter. American Century Companies Inc. now owns 9,011,935 shares of the oilfield services company’s stock valued at $239,537,000 after acquiring an additional 2,029,477 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Halliburton by 135.5% during the 1st quarter. SG Americas Securities LLC now owns 443,864 shares of the oilfield services company’s stock valued at $13,005,000 after acquiring an additional 1,695,816 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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