Halliburton (NYSE:HAL) Stock Rating Lowered by Griffin Securities

Halliburton (NYSE:HAL) was downgraded by Griffin Securities from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports.

HAL has been the topic of several other reports. Morgan Stanley reduced their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Dbs Bank assumed coverage on Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Bank of America reduced their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

Halliburton Price Performance

HAL opened at $25.77 on Friday. The stock has a market capitalization of $22.64 billion, a PE ratio of 8.98, a P/E/G ratio of 3.61 and a beta of 1.90. The company’s 50 day simple moving average is $29.45 and its 200 day simple moving average is $31.08. Halliburton has a 1 year low of $25.66 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Halliburton will post 3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HAL. Country Trust Bank acquired a new position in Halliburton in the third quarter worth about $36,000. Continuum Advisory LLC lifted its position in shares of Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC acquired a new stake in Halliburton in the 3rd quarter valued at $44,000. Venturi Wealth Management LLC raised its stake in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after acquiring an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares during the period. 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.