JPMorgan Chase & Co. Cuts Halliburton (NYSE:HAL) Price Target to $33.00

Halliburton (NYSE:HAL - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $35.00 to $33.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the oilfield services company's stock.

A number of other equities analysts have also recently issued reports on HAL. Dbs Bank began coverage on shares of Halliburton in a report on Wednesday, September 18th. They issued a "buy" rating and a $45.00 target price on the stock. Morgan Stanley cut their price target on Halliburton from $35.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. BMO Capital Markets lowered their price objective 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. Royal Bank of Canada cut Halliburton from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Finally, UBS Group lowered shares of Halliburton from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.21.

Halliburton Stock Up 2.0 %

Halliburton stock traded up $0.54 during midday trading on Thursday, hitting $27.73. The stock had a trading volume of 6,247,512 shares, compared to its average volume of 8,395,981. The business has a fifty day moving average price of $29.03 and a 200 day moving average price of $30.59. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The stock has a market cap of $24.36 billion, a P/E ratio of 9.66, a P/E/G ratio of 3.55 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL - Get Free Report) last posted 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business's revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. Research analysts predict that Halliburton will post 3 EPS for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton's payout ratio is currently 23.69%.

Institutional Trading of Halliburton

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Country Trust Bank purchased a new stake in shares of Halliburton during the third quarter valued at $36,000. Continuum Advisory LLC raised its holdings in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company's stock worth $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC purchased a new stake in Halliburton during the third quarter valued at about $44,000. Venturi Wealth Management LLC boosted its holdings in shares of Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company's stock worth $47,000 after buying an additional 412 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company's stock worth $51,000 after buying an additional 393 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.