Wells Fargo & Company Lowers Halliburton (NYSE:HAL) Price Target to $34.00

Halliburton (NYSE:HAL) had its target price decreased by stock analysts at Wells Fargo & Company from $39.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oilfield services company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 30.02% from the company’s current price.

HAL has been the subject of a number of other research reports. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $34.00 in a report on Monday, December 9th. Susquehanna reduced their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Morgan Stanley lowered their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Finally, Dbs Bank started coverage on Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.79.

Halliburton Price Performance

Halliburton stock opened at $26.15 on Tuesday. The firm has a market cap of $22.97 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 3.61 and a beta of 1.90. 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’s fifty day moving average price is $29.55 and its two-hundred day moving average price is $31.12. Halliburton has a one year low of $26.11 and a one year high of $41.56.

Halliburton (NYSE:HAL) last issued 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the business posted $0.79 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts expect that Halliburton will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Halliburton

Large investors have recently modified their holdings of the company. MidWestOne Financial Group Inc. boosted its position in Halliburton by 4.4% during the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Halliburton by 0.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after purchasing an additional 390 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares in the last quarter. Northwest Bank & Trust Co grew its stake in Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after purchasing an additional 397 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.