Halliburton (NYSE:HAL) Given New $51.00 Price Target at UBS Group

Halliburton (NYSE:HAL) had its target price lifted by UBS Group from $46.00 to $51.00 in a report released on Tuesday morning. They currently have a buy rating on the oilfield services company’s stock.

A number of other brokerages have also recently commented on HAL. Royal Bank of Canada reiterated an outperform rating and issued a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Susquehanna reissued a positive rating and set a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Raymond James lowered their price objective on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. TD Cowen lifted their price target on Halliburton from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group lifted their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $49.00.

Halliburton Stock Performance

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 firm has a fifty day moving average price of $37.66 and a 200 day moving average price of $37.39. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The stock has a market cap of $34.20 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Halliburton will post 3.42 earnings per share for the current year.

Insider Transactions at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Hedge funds have recently bought and sold shares of the business. Rise Advisors LLC purchased a new stake in Halliburton in the 1st quarter worth about $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Halliburton during the 4th quarter worth about $33,000. Ancora Advisors LLC raised its stake in shares of Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 719 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Halliburton during the 4th quarter worth about $36,000. Finally, First United Bank & Trust purchased a new stake in shares of Halliburton during the 4th quarter worth about $36,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.