Halliburton (NYSE:HAL) Price Target Cut to $26.00 by Analysts at Barclays

Halliburton (NYSE:HAL - Get Free Report) had its target price lowered by equities researchers at Barclays from $29.00 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the oilfield services company's stock. Barclays's price target would suggest a potential upside of 24.66% from the stock's current price.

A number of other analysts have also recently commented on HAL. Susquehanna reduced their price target on Halliburton from $35.00 to $32.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Evercore ISI lowered their price target on shares of Halliburton from $43.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, January 15th. Benchmark reduced their price objective on shares of Halliburton from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.68.

Halliburton Stock Performance

Shares of NYSE:HAL traded down $0.35 during trading on Wednesday, hitting $20.86. The company's stock had a trading volume of 11,003,499 shares, compared to its average volume of 9,953,775. The company has a 50-day moving average of $23.74 and a 200-day moving average of $26.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 7.37, a P/E/G ratio of 3.79 and a beta of 1.45. Halliburton has a 12 month low of $18.72 and a 12 month high of $38.89.

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. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.28 billion. On average, sell-side analysts expect that Halliburton will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the sale, the chief financial officer now directly owns 127,101 shares of the company's stock, valued at $3,321,149.13. The trade was a 52.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret Katherine Banks sold 3,900 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total value of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares of the company's stock, valued at $253,646.04. The trade was a 26.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,782 shares of company stock worth $5,321,170. Insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently made changes to their positions in HAL. Mascagni Wealth Management Inc. bought a new position in Halliburton during the 4th quarter valued at about $28,000. Horrell Capital Management Inc. bought a new position in shares of Halliburton during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new stake in shares of Halliburton in the fourth quarter worth approximately $36,000. Modus Advisors LLC bought a new stake in shares of Halliburton during the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Halliburton during the 4th quarter valued at $39,000. 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.