Halliburton (NYSE:HAL) Lowered to Market Perform Rating by Raymond James

Halliburton (NYSE:HAL) was downgraded by stock analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research note issued on Monday,Briefing.com Automated Import reports.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Bank of America cut their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Dbs Bank started coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target on the stock. Finally, BMO Capital Markets cut their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.95.

Halliburton Stock Performance

NYSE:HAL opened at $27.68 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a twelve month low of $25.51 and a twelve month high of $41.56. The stock has a market cap of $24.32 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 3.55 and a beta of 1.91. The firm’s fifty day simple moving average is $29.02 and its 200 day simple moving average is $30.51.

Halliburton (NYSE:HAL) last released its quarterly earnings results 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the company earned $0.79 earnings per share. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts predict that Halliburton will post 3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Country Trust Bank acquired a new stake in Halliburton in the 3rd quarter worth about $36,000. Modus Advisors LLC purchased a new stake in Halliburton in the 4th quarter valued at about $38,000. Continuum Advisory LLC lifted its position in Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Halliburton during the third quarter worth about $44,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

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.