Stifel Nicolaus Cuts Halliburton (NYSE:HAL) Price Target to $27.00

Key Points

• Stifel Nicolaus has reduced its price target for Halliburton from $29.00 to $27.00, maintaining a "buy" rating, which indicates a potential upside of 21.33% from the current price.
• Other brokerages have also adjusted their targets for Halliburton, with some, like Susquehanna and Barclays, setting their targets as low as $20.00, while Melius Research has a much higher target of $41.00.
• For the quarter ended July 22nd, Halliburton reported earnings per share of $0.55, matching analysts' expectations, but saw a 5.5% year-over-year decline in revenue.

Halliburton (NYSE:HAL - Get Free Report) had its target price cut by investment analysts at Stifel Nicolaus from $29.00 to $27.00 in a report issued on Friday,MarketScreener reports. The firm currently has a "buy" rating on the oilfield services company's stock. Stifel Nicolaus' price objective suggests a potential upside of 21.33% from the stock's current price.

A number of other brokerages have also issued reports on HAL. Susquehanna dropped their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Melius Research started coverage on shares of Halliburton in a research note on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price for the company. Barclays lowered their target price on shares of Halliburton from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Halliburton in a research note on Tuesday. Finally, Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research note on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.26.

Halliburton Trading Up 2.0%

Shares of HAL opened at $22.25 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. Halliburton has a 12-month low of $18.72 and a 12-month high of $32.57. The firm has a 50-day moving average price of $22.63 and a 200 day moving average price of $21.66. The firm has a market capitalization of $18.97 billion, a P/E ratio of 10.40 and a beta of 1.02.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its holdings in Halliburton by 7.3% in the second quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company's stock valued at $150,000 after acquiring an additional 504 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in Halliburton by 4.3% in the second quarter. Cerro Pacific Wealth Advisors LLC now owns 13,590 shares of the oilfield services company's stock valued at $277,000 after acquiring an additional 559 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Halliburton by 2.6% in the second quarter. International Assets Investment Management LLC now owns 22,307 shares of the oilfield services company's stock valued at $455,000 after acquiring an additional 566 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in Halliburton by 0.8% in the first quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company's stock valued at $1,815,000 after acquiring an additional 584 shares in the last quarter. Finally, Hills Bank & Trust Co raised its holdings in Halliburton by 1.6% in the first quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company's stock valued at $983,000 after acquiring an additional 595 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.