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

Halliburton (NYSE:HAL) had its target price boosted by analysts at The Goldman Sachs Group from $46.00 to $48.00 in a report issued on Tuesday. The Goldman Sachs Group’s price target would indicate a potential upside of 24.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. Barclays reduced their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. TD Cowen upped their price target on Halliburton from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Morgan Stanley increased their price objective on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Raymond James lowered their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton currently has an average rating of “Buy” and a consensus price target of $49.00.

Halliburton Price Performance

Halliburton stock traded down $0.13 during trading hours on Tuesday, hitting $38.59. The stock had a trading volume of 903,336 shares, compared to its average volume of 7,036,228. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.00 and a beta of 2.00. The stock’s fifty day moving average is $37.57 and its two-hundred day moving average is $37.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts predict that Halliburton will post 3.42 earnings per share for the current fiscal year.

Insider Activity at Halliburton

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

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in shares of Halliburton by 271.0% during the fourth quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after buying an additional 561,020 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Halliburton by 69.5% during the fourth quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock worth $7,472,000 after buying an additional 84,771 shares in the last quarter. KLCM Advisors Inc. increased its holdings in shares of Halliburton by 6.9% during the fourth quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock worth $17,722,000 after buying an additional 31,534 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Halliburton by 65.4% during the fourth quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock worth $2,094,000 after buying an additional 22,906 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Halliburton during the third quarter worth $344,000. 85.23% of the stock is currently owned by institutional investors.

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.