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

Halliburton (NYSE:HAL) had its price target lowered by investment analysts at Barclays from $32.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s price target suggests a potential upside of 7.81% from the company’s current price.

HAL has been the topic of a number of other reports. UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Jefferies Financial Group reduced their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus lowered their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Bank of America decreased their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, BMO Capital Markets dropped their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Down 0.5 %

Halliburton stock opened at $27.83 on Thursday. The stock has a 50-day simple moving average of $28.85 and a 200-day simple moving average of $30.03. The company has a market capitalization of $24.45 billion, a P/E ratio of 9.83, a PEG ratio of 3.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.05. Halliburton has a fifty-two week low of $25.51 and a fifty-two week high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. Halliburton’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Equities research analysts expect that Halliburton will post 2.94 earnings per share for the current year.

Institutional Investors Weigh In On Halliburton

A number of large investors have recently added to or reduced their stakes in HAL. Cary Street Partners Asset Management LLC lifted its holdings in shares of Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after purchasing an additional 56,707 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Halliburton by 105.2% in the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after buying an additional 95,864 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after buying an additional 3,150,986 shares during the last quarter. Quest Partners LLC increased its position in Halliburton by 2,418.9% during the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after buying an additional 75,275 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Halliburton in the third quarter worth $1,181,000. 85.23% of the stock is 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.