UBS Group Cuts Halliburton (NYSE:HAL) Price Target to $21.00

Halliburton (NYSE:HAL) had its target price decreased by UBS Group from $22.00 to $21.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the oilfield services company’s stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of Halliburton from $37.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of Halliburton from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Barclays decreased their price target on shares of Halliburton from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reduced their price objective on shares of Halliburton from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on shares of Halliburton from $34.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.53.

Halliburton Price Performance

Shares of HAL opened at $21.49 on Wednesday. Halliburton has a 1-year low of $18.72 and a 1-year high of $37.08. The stock has a market cap of $18.48 billion, a PE ratio of 8.99, a P/E/G ratio of 3.37 and a beta of 1.13. The firm has a 50-day simple moving average of $20.81 and a two-hundred day simple moving average of $23.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.98 and a quick ratio of 1.46.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Halliburton had a net margin of 9.31% and a return on equity of 24.01%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. As a group, analysts forecast that Halliburton will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 annualized dividend and a yield of 3.16%. Halliburton’s dividend payout ratio is currently 28.45%.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently bought and sold shares of the company. Blume Capital Management Inc. grew its stake in shares of Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after purchasing an additional 400 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Halliburton by 0.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 84,675 shares of the oilfield services company’s stock worth $2,302,000 after purchasing an additional 484 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Halliburton by 1.2% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 42,683 shares of the oilfield services company’s stock worth $1,161,000 after purchasing an additional 505 shares during the period. Fayez Sarofim & Co grew its stake in shares of Halliburton by 3.1% during the 4th quarter. Fayez Sarofim & Co now owns 17,060 shares of the oilfield services company’s stock worth $464,000 after purchasing an additional 520 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Halliburton by 8.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company’s stock worth $174,000 after purchasing an additional 562 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

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.