UBS Group Cuts Halliburton (NYSE:HAL) Price Target to $21.00

Halliburton (NYSE:HAL - Get Free Report) had its price target cut by equities researchers at UBS Group from $22.00 to $21.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oilfield services company's stock. UBS Group's price target would indicate a potential downside of 2.28% from the stock's previous close.

HAL has been the topic of several other research reports. Morgan Stanley lowered their price objective on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Hsbc Global Res upgraded shares of Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Citigroup lowered their price objective on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Halliburton from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays decreased their target price on shares of Halliburton from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.53.

Halliburton Stock Performance

Shares of NYSE:HAL traded down $0.22 during trading on Wednesday, hitting $21.49. The company's stock had a trading volume of 7,314,256 shares, compared to its average volume of 11,365,580. The company has a 50-day moving average of $20.81 and a 200-day moving average of $23.76. Halliburton has a 12 month low of $18.72 and a 12 month high of $37.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.98 and a quick ratio of 1.46. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 3.37 and a beta of 1.13.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data 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 9.31% and a return on equity of 24.01%. The firm 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.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sage Capital Advisors llc raised its position in shares of Halliburton by 1.2% during the second quarter. Sage Capital Advisors llc now owns 278,708 shares of the oilfield services company's stock valued at $5,680,000 after buying an additional 3,191 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Halliburton during the first quarter valued at approximately $2,522,000. Militia Capital Partners LP purchased a new position in shares of Halliburton in the first quarter valued at $94,000. Inspire Investing LLC grew its holdings in shares of Halliburton by 31.5% in the first quarter. Inspire Investing LLC now owns 12,447 shares of the oilfield services company's stock valued at $316,000 after purchasing an additional 2,985 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL grew its holdings in shares of Halliburton by 2.6% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 71,363 shares of the oilfield services company's stock valued at $1,810,000 after purchasing an additional 1,803 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.