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

Halliburton (NYSE:HAL) had its target price hoisted by stock analysts at UBS Group from $46.00 to $51.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the oilfield services company’s stock. UBS Group’s price target would suggest a potential upside of 31.71% from the company’s current price.

A number of other equities research analysts have also recently weighed in on HAL. Morgan Stanley lifted their price target on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday. Susquehanna reaffirmed a “positive” rating and set a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. TD Cowen lifted their price target on Halliburton from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. The Goldman Sachs Group boosted their target price on Halliburton from $46.00 to $48.00 in a report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, January 24th. One equities research 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 MarketBeat.com, the company has an average rating of “Buy” and an average target price of $48.82.

Halliburton Stock Performance

Shares of HAL stock opened at $38.72 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $37.75 and a two-hundred day moving average of $37.40. Halliburton has a 52 week low of $27.84 and a 52 week high of $43.85. The company has a market cap of $34.32 billion, a P/E ratio of 13.22, a PEG ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. Halliburton’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Halliburton will post 3.42 EPS for the current year.

Insider Buying and Selling at Halliburton

In other Halliburton news, 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 transaction, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Halliburton

Large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Halliburton by 8.9% in the 3rd quarter. CWM LLC now owns 23,253 shares of the oilfield services company’s stock worth $942,000 after acquiring an additional 1,910 shares in the last quarter. IFP Advisors Inc lifted its stake in Halliburton by 185.6% in the 3rd quarter. IFP Advisors Inc now owns 12,706 shares of the oilfield services company’s stock worth $515,000 after acquiring an additional 8,257 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Halliburton in the 3rd quarter worth about $45,000. Meridian Wealth Management LLC lifted its stake in Halliburton by 14.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 37,272 shares of the oilfield services company’s stock worth $1,510,000 after acquiring an additional 4,764 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in Halliburton by 26.4% in the 3rd quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock worth $1,044,000 after acquiring an additional 5,384 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.