Halliburton (NYSE:HAL) Given New $26.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised Halliburton's price target from $24.00 to $26.00, indicating a potential upside of 18.15% from the company's previous close, while maintaining a "sector perform" rating.
• Halliburton's shares recently opened at $22.01, with a one-year high of $32.57 and a low of $18.72, reflecting a 6.0% decline.
• Institutional investors own approximately 85.23% of Halliburton's stock, with significant increases in holdings reported by various firms in recent quarters.

Halliburton (NYSE:HAL - Get Free Report) had its price target upped by Royal Bank Of Canada from $24.00 to $26.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a "sector perform" rating on the oilfield services company's stock. Royal Bank Of Canada's price target points to a potential upside of 18.15% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Halliburton in a research note on Wednesday. Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research report on Monday, July 28th. Susquehanna lowered their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company lowered their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Melius assumed coverage on Halliburton in a research note on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.11.

Halliburton Stock Down 6.0%

Shares of NYSE:HAL opened at $22.01 on Thursday. Halliburton has a 1 year low of $18.72 and a 1 year high of $32.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The business's 50-day moving average is $22.53 and its 200-day moving average is $21.77. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 10.28 and a beta of 1.02.

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

Institutional Investors Weigh In On Halliburton

Large investors have recently modified their holdings of the stock. ORG Partners LLC grew its holdings in shares of Halliburton by 13,675.2% during the 1st quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock worth $440,000 after acquiring an additional 17,094 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Halliburton during the second quarter valued at approximately $287,000. V Square Quantitative Management LLC grew its stake in shares of Halliburton by 82.1% in the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company's stock worth $997,000 after buying an additional 22,045 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Halliburton by 42.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company's stock valued at $7,816,000 after buying an additional 91,791 shares in the last quarter. Finally, Perpetual Ltd raised its stake in Halliburton by 29.7% during the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company's stock valued at $22,050,000 after buying an additional 248,015 shares during the last quarter. 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.

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