Halliburton (NYSE:HAL) Price Target Raised to $48.00

Halliburton (NYSE:HAL) had its price target raised by TD Cowen from $47.00 to $48.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the oilfield services company’s stock. TD Cowen’s price objective indicates a potential upside of 23.97% from the company’s previous close.

HAL has been the subject of several other research reports. Susquehanna reissued a “positive” rating and set a $49.00 target price on shares of Halliburton in a report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Morgan Stanley boosted their target price on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group boosted their target price on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays decreased their target price on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.82.

Halliburton Stock Performance

NYSE HAL opened at $38.72 on Wednesday. The company has a fifty day simple moving average of $37.81 and a two-hundred day simple moving average of $37.41. The stock 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. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79.

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

Insider Transactions at Halliburton

In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

Several large investors have recently bought and sold shares of HAL. Rise Advisors LLC purchased a new stake in Halliburton during the 1st quarter valued at about $26,000. IAG Wealth Partners LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $33,000. Ancora Advisors LLC lifted its holdings 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 worth $36,000 after acquiring an additional 719 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Halliburton in the 4th quarter worth approximately $36,000. 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.