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

Halliburton (NYSE:HAL) had its target price cut by stock analysts at Stifel Nicolaus from $42.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 32.97% from the company’s previous close.

A number of other analysts have also weighed in on HAL. Piper Sandler initiated coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. BMO Capital Markets lowered their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Susquehanna decreased their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, UBS Group cut Halliburton from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $34.00 in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Trading Down 0.5 %

Shares of HAL opened at $27.83 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.05. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 3.58 and a beta of 1.91. The stock has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $30.03. Halliburton has a 52-week low of $25.51 and a 52-week high of $41.56.

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 the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. Analysts predict that Halliburton will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Halliburton

Several institutional investors have recently modified their holdings of HAL. Franklin Resources Inc. raised its stake in shares of Halliburton by 244.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock valued at $138,025,000 after purchasing an additional 3,203,224 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after buying an additional 3,150,986 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Halliburton in the 3rd quarter valued at approximately $55,132,000. Thrivent Financial for Lutherans lifted its stake in Halliburton by 22.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock valued at $160,367,000 after acquiring an additional 995,649 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Halliburton by 127.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,130 shares of the oilfield services company’s stock worth $52,600,000 after acquiring an additional 871,789 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.