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

Halliburton (NYSE:HAL) had its price target lowered by JPMorgan Chase & Co. from $35.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.37% from the company’s previous close.

A number of other brokerages have also recently issued reports on HAL. Bank of America lowered their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Susquehanna decreased their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Piper Sandler began coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.21.

Halliburton Price Performance

Halliburton stock opened at $27.19 on Thursday. The stock has a market cap of $23.89 billion, a P/E ratio of 9.47, a P/E/G ratio of 3.55 and a beta of 1.90. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average price is $29.04 and its two-hundred day moving average price is $30.61. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. On average, equities analysts predict that Halliburton will post 3 earnings per share for the current year.

Institutional Investors Weigh In On Halliburton

Hedge funds have recently bought and sold shares of the business. Cary Street Partners Asset Management LLC grew its holdings in shares of Halliburton by 56.5% during the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after buying an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Halliburton by 146.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after purchasing an additional 500,000 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after buying an additional 3,150,986 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Halliburton by 2,418.9% in the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after buying an additional 75,275 shares in the last quarter. Institutional investors 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.