Halliburton (NYSE:HAL) Price Target Lowered to $26.00 at Wells Fargo & Company

Halliburton (NYSE:HAL - Free Report) had its price target reduced by Wells Fargo & Company from $28.00 to $26.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the oilfield services company's stock.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday. Barclays reduced their target price on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Susquehanna reduced their target price on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday. Hsbc Global Res raised shares of Halliburton to a "hold" rating in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group cut their price target on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Halliburton has an average rating of "Moderate Buy" and an average price target of $31.61.

Halliburton Price Performance

HAL traded up $0.05 during midday trading on Wednesday, reaching $22.47. 15,727,914 shares of the company's stock were exchanged, compared to its average volume of 14,436,213. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.46. The stock has a market capitalization of $19.31 billion, a PE ratio of 10.50, a P/E/G ratio of 3.79 and a beta of 1.13. The business's 50-day moving average price is $21.22 and its 200 day moving average price is $23.24. Halliburton has a 1-year low of $18.72 and a 1-year high of $34.97.

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

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, June 4th. Halliburton's dividend payout ratio is presently 31.78%.

Institutional Trading of Halliburton

A number of hedge funds have recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at about $28,000. Stone House Investment Management LLC acquired a new position in Halliburton during the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in shares of Halliburton by 87.4% in the first 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 during the period. Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton in the fourth quarter valued at approximately $39,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Halliburton in the first quarter valued at approximately $37,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.