Halliburton (NYSE:HAL) Price Target Lowered to $25.00 at Citigroup

Halliburton (NYSE:HAL) had its price target cut by Citigroup from $27.00 to $25.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the oilfield services company’s stock.

Several other equities analysts have also issued reports on HAL. Zacks Investment Research upgraded Halliburton from a sell rating to a hold rating and set a $20.00 target price for the company in a research report on Wednesday, July 24th. Barclays lowered Halliburton from an overweight rating to an equal weight rating and decreased their target price for the stock from $31.00 to $23.00 in a research report on Monday, September 16th. Credit Suisse Group decreased their target price on Halliburton from $33.00 to $27.00 and set an outperform rating for the company in a research report on Tuesday, July 23rd. Stephens decreased their target price on Halliburton from $45.00 to $35.00 and set an overweight rating for the company in a research report on Tuesday, July 23rd. Finally, AltaCorp Capital reiterated a sector perform rating on shares of Halliburton in a report on Thursday, June 20th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Halliburton currently has a consensus rating of Buy and a consensus target price of $35.57.

Shares of Halliburton stock traded down $0.08 during trading on Friday, hitting $18.43. 22,892,749 shares of the company were exchanged, compared to its average volume of 11,489,171. The firm has a market capitalization of $16.21 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 2.29 and a beta of 1.37. Halliburton has a 1-year low of $16.97 and a 1-year high of $38.86. The firm’s fifty day moving average price is $19.27 and its 200 day moving average price is $22.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 1.59.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.97 billion. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. As a group, equities research analysts anticipate that Halliburton will post 1.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.91%. 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 business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Halliburton by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 66,260,319 shares of the oilfield services company’s stock valued at $1,506,759,000 after acquiring an additional 210,596 shares in the last quarter. BlackRock Inc. lifted its stake in Halliburton by 8.3% in the 2nd quarter. BlackRock Inc. now owns 64,046,975 shares of the oilfield services company’s stock valued at $1,456,428,000 after acquiring an additional 4,911,686 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Halliburton by 21.0% in the 2nd quarter. Macquarie Group Ltd. now owns 28,178,590 shares of the oilfield services company’s stock valued at $640,781,000 after acquiring an additional 4,887,699 shares in the last quarter. Sanders Capital LLC lifted its stake in Halliburton by 3.3% in the 2nd quarter. Sanders Capital LLC now owns 23,928,402 shares of the oilfield services company’s stock valued at $600,813,000 after acquiring an additional 773,300 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Halliburton by 89.8% in the 2nd quarter. Pzena Investment Management LLC now owns 23,591,540 shares of the oilfield services company’s stock valued at $536,472,000 after acquiring an additional 11,163,777 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

Halliburton Company Profile

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.

Further Reading: What is the Beige Book?

Analyst Recommendations for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.