Citigroup Increases Halliburton (NYSE:HAL) Price Target to $50.00

Halliburton (NYSE:HAL) had its price objective lifted by analysts at Citigroup from $45.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Citigroup’s target price would indicate a potential upside of 29.13% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Halliburton in a research note on Wednesday. TD Cowen lifted their price target on shares of Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a research report on Wednesday, January 24th. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group lifted their price target on shares of Halliburton from $46.00 to $48.00 in a research report on Tuesday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.82.

Halliburton Price Performance

Shares of NYSE:HAL opened at $38.72 on Wednesday. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock’s 50 day moving average price is $37.81 and its 200 day moving average price is $37.41.

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 company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Halliburton will post 3.42 earnings per share 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 that occurred on Tuesday, March 5th. The shares were 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 in the company, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 in the company, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the stock. MCF Advisors LLC grew its holdings in shares of Halliburton by 5.3% during the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after acquiring an additional 232 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of 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 purchasing an additional 250 shares during the last quarter. Nvwm LLC lifted its stake in shares of 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 purchasing an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 263 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in shares of 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 purchasing an additional 268 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other 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.