Halliburton (NYSE:HAL) Coverage Initiated at Melius Research

Melius Research assumed coverage on shares of Halliburton (NYSE:HAL) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $41.00 price target on the oilfield services company’s stock. Melius Research’s price objective indicates a potential upside of 92.99% from the company’s previous close.

Other analysts also recently issued reports about the company. Citigroup cut their target price on Halliburton from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Hsbc Global Res raised Halliburton to a “hold” rating in a research note on Wednesday, April 23rd. UBS Group cut their target price on Halliburton from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Halliburton from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 23rd. Finally, Piper Sandler downgraded Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average price target of $32.05.

Halliburton Stock Up 0.7%

NYSE HAL opened at $21.2450 on Wednesday. The business has a fifty day moving average price of $21.63 and a 200 day moving average price of $22.42. Halliburton has a one year low of $18.72 and a one year high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The company has a market cap of $18.11 billion, a P/E ratio of 9.93, a P/E/G ratio of 3.69 and a beta of 1.12.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Research analysts anticipate that Halliburton will post 2.64 EPS for the current fiscal year.

Institutional Trading of Halliburton

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC boosted its holdings in Halliburton by 13,675.2% during the 1st quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company’s stock valued at $440,000 after acquiring an additional 17,094 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Halliburton by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company’s stock valued at $4,047,000 after acquiring an additional 40,109 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Halliburton by 22.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company’s stock valued at $3,256,000 after acquiring an additional 23,887 shares during the period. Principal Financial Group Inc. boosted its holdings in Halliburton by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company’s stock valued at $70,530,000 after acquiring an additional 67,704 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Halliburton by 754.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 824,549 shares of the oilfield services company’s stock valued at $20,671,000 after acquiring an additional 728,059 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

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.