Royal Bank Of Canada Has Lowered Expectations for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL - Get Free Report) had its target price dropped by equities research analysts at Royal Bank Of Canada from $28.00 to $24.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the oilfield services company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 6.83% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. Susquehanna lowered their target price on shares of Halliburton from $32.00 to $30.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Hsbc Global Res raised shares of Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on Halliburton from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. UBS Group decreased their target price on shares of Halliburton from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Finally, Barclays decreased their target price on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.61.

Halliburton Trading Up 0.2%

Halliburton stock traded up $0.05 during midday trading on Wednesday, reaching $22.47. The stock had a trading volume of 15,727,914 shares, compared to its average volume of 14,436,213. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 3.79 and a beta of 1.13. The company has a fifty day moving average of $21.22 and a 200 day moving average of $23.24. Halliburton has a 52-week low of $18.72 and a 52-week high of $34.97. The company has a quick ratio of 1.46, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NorthRock Partners LLC acquired a new stake in shares of Halliburton in the 2nd quarter worth $557,000. Atria Wealth Solutions Inc. lifted its stake in shares of Halliburton by 5.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,358 shares of the oilfield services company's stock worth $231,000 after acquiring an additional 630 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Halliburton by 310.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 33,522 shares of the oilfield services company's stock worth $683,000 after acquiring an additional 25,361 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Halliburton by 0.6% in the 2nd quarter. Yousif Capital Management LLC now owns 112,023 shares of the oilfield services company's stock worth $2,283,000 after acquiring an additional 618 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in shares of Halliburton by 134.7% in the 2nd quarter. Pzena Investment Management LLC now owns 3,734,069 shares of the oilfield services company's stock worth $76,100,000 after acquiring an additional 2,142,939 shares during the period. 85.23% of the stock is owned by hedge funds and other 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.