Halliburton (NYSE:HAL) Price Target Raised to $51.00 at UBS Group

Halliburton (NYSE:HAL) had its price objective upped by UBS Group from $46.00 to $51.00 in a report published on Tuesday morning. They currently have a buy rating on the oilfield services company’s stock.

A number of other research analysts have also recently weighed in on the stock. Susquehanna restated a positive rating and issued a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Barclays dropped their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a report on Wednesday, January 24th. TD Cowen lifted their price objective on shares of Halliburton from $49.00 to $51.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Morgan Stanley lifted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $48.82.

Halliburton Price Performance

Halliburton stock opened at $38.54 on Tuesday. The company’s 50 day simple moving average is $37.88 and its 200-day simple moving average is $37.39. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. As a group, equities research analysts expect that Halliburton will post 3.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a legal filing with the SEC, 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 transaction of $176,500.00. Following the transaction, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

A number of large investors have recently bought and sold shares of HAL. Norges Bank purchased a new position in Halliburton during the 4th quarter worth $400,070,000. Dimensional Fund Advisors LP grew its stake in shares of Halliburton by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after purchasing an additional 1,568,485 shares during the period. Sourcerock Group LLC grew its stake in shares of Halliburton by 237.6% during the 3rd quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock worth $67,926,000 after purchasing an additional 1,180,406 shares during the period. Wellington Management Group LLP grew its stake in shares of Halliburton by 18.3% during the 4th quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock worth $224,770,000 after purchasing an additional 962,547 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Halliburton by 51.2% during the 4th quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock worth $91,787,000 after purchasing an additional 859,440 shares during the period. 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.