Halliburton (NYSE:HAL) Given New $30.00 Price Target at Morgan Stanley

Halliburton (NYSE:HAL) had its target price trimmed by Morgan Stanley from $36.00 to $30.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the oilfield services company’s stock.

Other research analysts have also recently issued reports about the stock. Stephens cut their price target on shares of Halliburton from $45.00 to $35.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Barclays cut shares of Halliburton from an overweight rating to an equal weight rating and cut their price target for the stock from $31.00 to $23.00 in a report on Monday, September 16th. Citigroup lowered their price objective on shares of Halliburton from $30.00 to $27.00 and set a buy rating for the company in a research note on Friday, September 6th. Credit Suisse Group lowered their price objective on shares of Halliburton from $33.00 to $27.00 and set an outperform rating for the company in a research note on Tuesday, July 23rd. Finally, Bank of America lowered their price objective on shares of Halliburton from $24.00 to $23.00 and set a buy rating for the company in a research note on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Halliburton currently has a consensus rating of Buy and an average target price of $35.67.

NYSE HAL opened at $18.95 on Tuesday. The company’s 50-day moving average price is $19.15 and its 200-day moving average price is $23.20. The company has a current ratio of 2.26, a quick ratio of 1.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $16.00 billion, a PE ratio of 9.97, a PEG ratio of 2.24 and a beta of 1.37. Halliburton has a 12 month low of $16.97 and a 12 month high of $40.45.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 22nd. The oilfield services company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, sell-side analysts forecast that Halliburton will post 1.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Tuesday, September 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $19.35 per share, with a total value of $154,800.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in HAL. United Bank lifted its position in shares of Halliburton by 4.9% during the first quarter. United Bank now owns 12,345 shares of the oilfield services company’s stock valued at $362,000 after buying an additional 574 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Halliburton by 40.4% during the first quarter. Envestnet Asset Management Inc. now owns 231,299 shares of the oilfield services company’s stock valued at $6,777,000 after buying an additional 66,503 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Halliburton by 22.3% during the first quarter. Rockefeller Capital Management L.P. now owns 20,183 shares of the oilfield services company’s stock valued at $591,000 after buying an additional 3,686 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Halliburton during the first quarter valued at about $530,000. Finally, Principal Financial Group Inc. lifted its position in shares of Halliburton by 0.8% during the first quarter. Principal Financial Group Inc. now owns 1,431,295 shares of the oilfield services company’s stock valued at $41,937,000 after buying an additional 11,249 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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