Raymond James Issues Pessimistic Forecast for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target lowered by equities research analysts at Raymond James from $41.00 to $37.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “strong-buy” rating on the oilfield services company’s stock. Raymond James’ price objective would indicate a potential upside of 26.58% from the company’s current price.

Several other analysts also recently weighed in on the company. Royal Bank of Canada downgraded Halliburton from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research note on Friday. Barclays reduced their price target on Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Stock Down 1.1 %

Shares of HAL stock traded down $0.32 during mid-day trading on Friday, reaching $29.23. 9,742,008 shares of the company’s stock traded hands, compared to its average volume of 8,816,506. The company’s 50-day moving average price is $29.10 and its 200-day moving average price is $32.53. The company has a market cap of $25.81 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.01 and a beta of 1.89. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. On average, equities analysts expect that Halliburton will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in shares of Halliburton by 2.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after purchasing an additional 295 shares in the last quarter. Beacon Capital Management LLC increased its holdings in Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after acquiring an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Halliburton by 3.1% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock worth $366,000 after acquiring an additional 330 shares during the period. Moody National Bank Trust Division lifted its holdings in Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares in the last quarter. Finally, Northwest Bank & Trust Co boosted its position in shares of Halliburton by 3.2% in 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. 85.23% of the stock is currently owned by 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.