Halliburton (NYSE:HAL) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Halliburton's stock rating has been restated with a "hold (C-)" by Weiss Ratings, indicating a cautious stance from analysts amidst mixed opinions in the market.
• Several analysts have recently downgraded their price targets for Halliburton, with a consensus rating of "Moderate Buy" and an average target price of $31.30.
• The company reported earnings of $0.55 per share for the last quarter, matching expectations, but its revenue showed a year-over-year decrease of 5.5%, signaling potential concerns.

Halliburton (NYSE:HAL - Get Free Report)'s stock had its "hold (c-)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently commented on HAL. Stifel Nicolaus reduced their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Melius Research assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Susquehanna reduced their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.30.

Halliburton Stock Performance

Shares of HAL stock opened at $23.93 on Wednesday. The business's 50 day simple moving average is $22.50 and its 200 day simple moving average is $21.83. Halliburton has a one year low of $18.72 and a one year high of $32.57. The stock has a market capitalization of $20.40 billion, a PE ratio of 11.18 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The firm's revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Halliburton will post 2.64 earnings per share for the current year.

Hedge Funds Weigh In On Halliburton

Large investors have recently bought and sold shares of the stock. Stone House Investment Management LLC bought a new position in Halliburton during the 1st quarter valued at $30,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton during the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC lifted its stake in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after acquiring an additional 656 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Halliburton during the 1st quarter valued at $37,000. Finally, Rakuten Securities Inc. lifted its stake in Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company's stock valued at $32,000 after acquiring an additional 1,341 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

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.

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