Halliburton (NYSE:HAL) Cut to Market Perform at Raymond James

Raymond James lowered shares of Halliburton (NYSE:HAL) from a strong-buy rating to a market perform rating in a report issued on Monday, MarketBeat Ratings reports.

HAL has been the topic of several other reports. Piper Sandler began coverage on Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective on the stock. Susquehanna cut their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Bank of America decreased their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Finally, Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $38.95.

Halliburton Trading Down 2.8 %

NYSE HAL opened at $26.97 on Monday. The stock has a market cap of $23.69 billion, a P/E ratio of 9.40, a PEG ratio of 3.55 and a beta of 1.91. The company’s fifty day simple moving average is $29.01 and its 200-day simple moving average is $30.41. 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 has a 52 week low of $25.51 and a 52 week high of $41.56.

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

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HAL. Pacer Advisors Inc. lifted its holdings in Halliburton by 17,317.6% in the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after purchasing an additional 13,552,927 shares during the period. Franklin Resources Inc. lifted its stake in shares of Halliburton by 244.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after acquiring an additional 3,203,224 shares during the period. LSV Asset Management boosted its holdings in shares of Halliburton by 24,954.1% in the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after acquiring an additional 2,720,000 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Halliburton during the third quarter valued at approximately $55,132,000. Finally, Dimensional Fund Advisors LP raised its holdings in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after purchasing an additional 1,681,620 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.