DALLAS (AP) -- Shares of Halliburton Co. dipped Wednesday and Dahlman Rose & Co. lowered its profit forecast citing a sluggish outlook for oil and gas drilling in North America. THE SPARK: Dahlman Rose analyst James Crandell lowered his profit predictions after a visit with Halliburton Chief Financial Officer Mark McCollum. He kept a "Buy" rating on the stock but lowered his 12-month target for the shares to $49 from $52. THE ANALYSIS: "The primary reason for our estimate reduction in the fourth quarter is the sluggish environment in North American rig activity, which is likely to persist," Crandell wrote in a note to clients. Crandell said that U.S. prices were likely to fall for hydraulic fracturing services used in extracting natural gas, and relief won't come until the second quarter of next year. Natural gas prices have sagged due to strong production, and that's hurting drilling activity.