Halliburton (NYSE:HAL) Price Target Raised to $45.00

Halliburton (NYSE:HAL) had its price target lifted by equities researchers at BMO Capital Markets from $42.00 to $45.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “market perform” rating on the oilfield services company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 8.99% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Rothschild & Co Redburn upped their price target on shares of Halliburton from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Capital One Financial increased their price target on shares of Halliburton from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Morgan Stanley lifted their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Piper Sandler increased their target price on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Finally, HSBC boosted their price target on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.05.

Halliburton Price Performance

Shares of NYSE:HAL traded down $0.41 during trading on Wednesday, reaching $41.29. 595,378 shares of the company’s stock traded hands, compared to its average volume of 14,937,699. Halliburton has a fifty-two week low of $19.38 and a fifty-two week high of $42.46. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The firm has a market cap of $34.49 billion, a PE ratio of 22.73, a P/E/G ratio of 1.76 and a beta of 0.73. The company has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $32.86.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Halliburton will post 2.32 earnings per share for the current year.

Insider Transactions at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $40.00, for a total value of $6,338,200.00. Following the sale, the chief executive officer directly owned 1,013,027 shares of the company’s stock, valued at approximately $40,521,080. This trade represents a 13.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey Shannon Slocum sold 5,441 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $33.82, for a total transaction of $184,014.62. Following the sale, the chief operating officer directly owned 187,423 shares of the company’s stock, valued at $6,338,645.86. This represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,488 shares of company stock worth $8,789,305 in the last three months. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Halliburton during the 3rd quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. acquired a new stake in Halliburton during the fourth quarter worth about $25,000. Kelleher Financial Advisors bought a new stake in shares of Halliburton in the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton in the second quarter valued at $25,000. Finally, Zions Bancorporation National Association UT boosted its stake in Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.