Wells Fargo & Company Cuts Halliburton (NYSE:HAL) Price Target to $27.00

Halliburton (NYSE:HAL - Get Free Report) had its price objective reduced by investment analysts at Wells Fargo & Company from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the oilfield services company's stock. Wells Fargo & Company's target price points to a potential upside of 32.09% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group cut their price target on shares of Halliburton from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Evercore ISI decreased their price target on Halliburton from $43.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, January 15th. Raymond James cut Halliburton from a "strong-buy" rating to a "market perform" rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus decreased their target price on shares of Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.32.

Halliburton Stock Down 1.3 %

Shares of NYSE:HAL traded down $0.26 during mid-day trading on Wednesday, reaching $20.44. 9,437,145 shares of the stock were exchanged, compared to its average volume of 9,836,908. The company has a market cap of $17.62 billion, a P/E ratio of 7.22, a P/E/G ratio of 3.79 and a beta of 1.45. The stock's 50 day simple moving average is $24.07 and its 200-day simple moving average is $26.98. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. Halliburton has a one year low of $18.72 and a one year high of $39.37.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.28 billion. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. As a group, equities research analysts predict that Halliburton will post 2.64 EPS for the current year.

Insider Buying and Selling at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the completion of the transaction, the chief financial officer now owns 127,101 shares of the company's stock, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the transaction, the director now directly owns 10,551 shares of the company's stock, valued at approximately $253,646.04. The trade was a 26.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock valued at $5,321,170 in the last three months. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Halliburton

A number of hedge funds have recently modified their holdings of HAL. Mascagni Wealth Management Inc. bought a new stake in shares of Halliburton in the 4th quarter valued at about $28,000. Horrell Capital Management Inc. bought a new position in Halliburton during the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new position in Halliburton in the fourth quarter valued at $36,000. Modus Advisors LLC bought a new stake in Halliburton during the fourth quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Halliburton during the 4th quarter worth about $39,000. Institutional investors and hedge funds 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.

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