TD Cowen Boosts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its price target increased by TD Cowen from $47.00 to $48.00 in a research report report published on Wednesday, Marketbeat reports. TD Cowen currently has a buy rating on the oilfield services company’s stock.

Other equities analysts have also issued research reports about the company. 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 research note on Wednesday, January 24th. Morgan Stanley raised their target price on Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a report on Tuesday. The Goldman Sachs Group raised their target price on Halliburton from $46.00 to $48.00 in a report on Tuesday. Barclays reduced their target price on Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. Finally, Susquehanna reaffirmed a positive rating and issued a $49.00 target price on shares of Halliburton in a report on Monday, April 8th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $48.82.

Halliburton Price Performance

Halliburton stock opened at $38.54 on Wednesday. The stock’s fifty day moving average price is $37.88 and its two-hundred day moving average price is $37.39. Halliburton has a one year low of $27.84 and a one year high of $43.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a market cap of $34.12 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the company earned $0.72 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Halliburton will post 3.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated 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 directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated Tuesday, March 5th. The stock was 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 directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated 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 transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. MCF Advisors LLC raised its position in shares of Halliburton by 5.3% in the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock worth $188,000 after acquiring an additional 232 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Halliburton by 0.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after buying an additional 250 shares in the last quarter. Nvwm LLC increased its position in Halliburton by 1.2% in the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after buying an additional 259 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in Halliburton by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after buying an additional 263 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its position in Halliburton by 2.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after buying an additional 268 shares in the last quarter. 85.23% of the stock is 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.