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

Halliburton (NYSE:HAL) had its price objective raised by Citigroup from $45.00 to $50.00 in a report published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the oilfield services company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Wednesday, January 24th. StockNews.com raised shares of Halliburton from a hold rating to a buy rating in a research note on Monday. Morgan Stanley raised their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a research note on Tuesday. Susquehanna reaffirmed a positive rating and issued a $49.00 price objective on shares of Halliburton in a research note on Monday, April 8th. Finally, TD Cowen lifted their price target on shares of Halliburton from $47.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $48.82.

Halliburton Stock Performance

Shares of Halliburton stock opened at $38.72 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a market cap of $34.32 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.99 and a beta of 2.00. The firm has a 50 day simple moving average of $37.75 and a 200 day simple moving average of $37.40. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the business posted $0.72 earnings per share. Halliburton’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Halliburton will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 in the company, valued at approximately $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 in the company, valued at approximately $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton 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 completion of the sale, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HAL. Rise Advisors LLC acquired a new position in shares of Halliburton during the 1st quarter worth about $26,000. IAG Wealth Partners LLC acquired a new position in shares of Halliburton during the 1st quarter worth about $30,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton during the 4th quarter worth about $33,000. Ancora Advisors LLC increased 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 during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Halliburton during the 4th quarter worth about $36,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

About Halliburton

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.