Halliburton (NYSE:HAL) Price Target Cut to $35.00 by Analysts at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective lowered by Morgan Stanley from $45.00 to $35.00 in a research report released on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the oilfield services company’s stock.

HAL has been the subject of a number of other research reports. Johnson Rice upgraded shares of Halliburton to a moderate buy rating in a research report on Friday, July 19th. The Goldman Sachs Group decreased their target price on shares of Halliburton from $47.00 to $40.00 and set a buy rating for the company in a research report on Thursday, August 29th. Piper Sandler decreased their target price on shares of Halliburton from $46.00 to $40.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group decreased their target price on shares of Halliburton from $50.00 to $47.00 and set a buy rating for the company in a research report on Monday, July 29th. Finally, Stifel Nicolaus decreased their target price on shares of Halliburton from $47.00 to $46.00 and set a buy rating for the company in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Halliburton currently has a consensus rating of Moderate Buy and a consensus target price of $43.88.

Halliburton Stock Up 1.9 %

HAL stock opened at $28.41 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a fifty-two week low of $27.52 and a fifty-two week high of $43.85. The firm’s 50-day simple moving average is $31.80 and its 200 day simple moving average is $35.00. The stock has a market cap of $25.15 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter last year, the company earned $0.77 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Halliburton by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after purchasing an additional 295 shares in the last quarter. Massachusetts Wealth Management lifted its position in shares of Halliburton by 1.7% in the first quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock worth $722,000 after purchasing an additional 300 shares in the last quarter. Beacon Capital Management LLC lifted its position in shares of Halliburton by 28.8% in the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its position in shares of Halliburton by 3.1% in the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock worth $366,000 after purchasing an additional 330 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of Halliburton by 2.9% in the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after purchasing an additional 336 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.