Rothschild & Co Redburn Initiates Coverage on Halliburton (NYSE:HAL)

Analysts at Rothschild & Co Redburn started coverage on shares of Halliburton (NYSE:HAL) in a report issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $35.00 price target on the oilfield services company’s stock. Rothschild & Co Redburn’s price target points to a potential upside of 30.50% from the company’s current price.

Several other research analysts have also issued reports on HAL. Piper Sandler raised their target price on shares of Halliburton from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Halliburton in a research note on Tuesday, October 14th. Stifel Nicolaus set a $32.00 price objective on shares of Halliburton in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Halliburton in a research note on Wednesday, October 8th. Finally, Hsbc Global Res raised shares of Halliburton from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.73.

Halliburton Stock Down 1.3%

Shares of NYSE HAL opened at $26.82 on Monday. The firm has a market capitalization of $22.57 billion, a PE ratio of 17.76 and a beta of 1.02. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.70. Halliburton has a 1 year low of $18.72 and a 1 year high of $32.57. The firm’s 50-day moving average is $23.84 and its 200-day moving average is $22.12.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. Equities analysts expect that Halliburton will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new position in Halliburton in the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton in the second quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in Halliburton in the first quarter valued at approximately $30,000. Root Financial Partners LLC bought a new position in Halliburton in the third quarter valued at approximately $32,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Halliburton by 547.3% in the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.