The Goldman Sachs Group Raises Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its target price upped by The Goldman Sachs Group from $46.00 to $48.00 in a research note released on Tuesday morning.

A number of other equities analysts also recently weighed in on the stock. TD Cowen lifted their target price on shares of Halliburton from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. UBS Group lifted their price objective on shares of Halliburton from $44.00 to $48.00 in a report on Monday, January 22nd. Susquehanna reiterated a positive rating and set a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. StockNews.com upgraded shares of Halliburton from a hold rating to a buy rating in a report on Monday. Finally, Royal Bank of Canada restated an outperform rating and set a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $49.00.

Halliburton Price Performance

HAL stock opened at $38.58 on Tuesday. The company has a fifty day moving average price of $37.66 and a 200-day moving average price of $37.39. The company has a market capitalization of $34.20 billion, a P/E ratio of 13.17, a PEG ratio of 1.00 and a beta of 2.00. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06.

Halliburton (NYSE:HAL) last announced its earnings results 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. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter last year, the firm earned $0.72 earnings per share. Halliburton’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Halliburton will post 3.42 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Halliburton in the first quarter worth about $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Halliburton during the fourth quarter valued at about $33,000. Ancora Advisors LLC raised its position in shares of Halliburton by 443.8% in the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Halliburton in the 4th quarter valued at approximately $36,000. Finally, First United Bank & Trust purchased a new position in shares of Halliburton in the 4th quarter valued at approximately $36,000. 85.23% of the stock is currently owned by 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.