Halliburton (NYSE:HAL) Price Target Cut to $46.00 by Analysts at Jefferies Financial Group

Halliburton (NYSE:HAL) had its price objective lowered by Jefferies Financial Group from $47.00 to $46.00 in a research note published on Tuesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the oilfield services company’s stock.

HAL has been the topic of several other reports. StockNews.com lowered Halliburton from a buy rating to a hold rating in a report on Wednesday, July 3rd. Benchmark restated a buy rating and set a $42.00 target price on shares of Halliburton in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on Halliburton from $45.00 to $40.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Evercore ISI cut their target price on Halliburton from $52.00 to $48.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Finally, UBS Group cut their target price on Halliburton from $41.00 to $37.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $43.11.

Halliburton Price Performance

Shares of NYSE:HAL opened at $29.96 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85. The business has a fifty day simple moving average of $31.26 and a 200 day simple moving average of $34.75. The firm has a market cap of $26.52 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same period last year, the company earned $0.77 earnings per share. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently added to or reduced their stakes in HAL. Rise Advisors LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $33,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Halliburton by 286.2% in the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after acquiring an additional 890 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $46,000. 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.