Halliburton (NYSE:HAL) Given New $50.00 Price Target at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective upped by Morgan Stanley from $45.00 to $50.00 in a research report report published on Tuesday morning. Morgan Stanley currently has an overweight rating on the oilfield services company’s stock.

Several other research firms have also issued reports on HAL. StockNews.com raised Halliburton from a hold rating to a buy rating in a research note on Monday. TD Cowen upped their price target on Halliburton from $49.00 to $51.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Raymond James dropped their price objective on Halliburton from $49.00 to $47.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. UBS Group increased their price objective on Halliburton from $44.00 to $48.00 in a report on Monday, January 22nd. Finally, Susquehanna restated a positive rating and set a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of Buy and a consensus price target of $49.00.

Halliburton Trading Down 0.4 %

HAL opened at $38.58 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. The company’s 50 day simple moving average is $37.66 and its two-hundred day simple moving average is $37.39. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.78 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Analysts expect that Halliburton will post 3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the transaction, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halliburton

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MCF Advisors LLC grew its position in shares of Halliburton by 5.3% in the third quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after purchasing an additional 232 shares during the period. Arcadia Investment Management Corp MI grew its position in shares of Halliburton by 0.7% in the third quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after purchasing an additional 250 shares during the period. Nvwm LLC grew its position in shares of Halliburton by 1.2% in the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after purchasing an additional 259 shares during the period. Stratos Wealth Advisors LLC grew its position in shares of Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after purchasing an additional 263 shares during the period. Finally, Lake Street Advisors Group LLC grew its position in shares of Halliburton by 2.3% in the third quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after purchasing an additional 268 shares during the period. 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.