Halliburton (NYSE:HAL) Given New $33.00 Price Target at JPMorgan Chase & Co.

Halliburton (NYSE:HAL) had its price objective decreased by analysts at JPMorgan Chase & Co. from $35.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the oilfield services company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 21.37% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Jefferies Financial Group dropped their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Finally, Raymond James dropped their price objective on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.21.

Halliburton Trading Up 0.9 %

Shares of Halliburton stock opened at $27.19 on Thursday. The company’s fifty day simple moving average is $29.04 and its 200-day simple moving average is $30.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The stock has a market capitalization of $23.89 billion, a PE ratio of 9.47, a P/E/G ratio of 3.55 and a beta of 1.90.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (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 business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts anticipate that Halliburton will post 3 earnings per share for the current year.

Hedge Funds Weigh In On Halliburton

Several hedge funds and other institutional investors have recently made changes to their positions in HAL. Pacer Advisors Inc. increased its stake in shares of Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares during the last quarter. Franklin Resources Inc. increased its position in Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the last quarter. LSV Asset Management raised its stake in Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Halliburton in the 3rd quarter valued at approximately $55,132,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.