Halliburton (NYSE:HAL) Receives Buy Rating from Stifel Nicolaus

Halliburton (NYSE:HALGet Free Report)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a report released on Wednesday,Benzinga reports. They presently have a $43.00 price target on the oilfield services company’s stock, up from their prior price target of $36.00. Stifel Nicolaus’ price objective indicates a potential upside of 12.56% from the company’s current price.

A number of other research firms have also commented on HAL. Citigroup upped their price target on Halliburton from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada upped their price target on Halliburton from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. upped their price target on Halliburton from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Griffin Securities raised Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.91.

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Halliburton Trading Up 4.1%

Shares of HAL stock opened at $38.20 on Wednesday. The stock has a market capitalization of $31.90 billion, a PE ratio of 25.30, a P/E/G ratio of 1.63 and a beta of 0.68. Halliburton has a 1-year low of $19.22 and a 1-year high of $41.18. The business has a 50-day moving average of $36.42 and a 200 day moving average of $31.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HALGet Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts anticipate that Halliburton will post 2.18 earnings per share for the current year.

Insider Transactions at Halliburton

In other news, CEO Jeffrey Allen Miller sold 171,200 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. This represents a 13.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy Mckeon sold 3,846 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $34.37, for a total value of $132,187.02. Following the completion of the transaction, the vice president directly owned 81,631 shares of the company’s stock, valued at $2,805,657.47. This represents a 4.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 415,508 shares of company stock worth $15,291,882. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton in the 4th quarter worth approximately $25,000. Zions Bancorporation National Association UT increased its position 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 buying an additional 650 shares in the last quarter. Kelleher Financial Advisors bought a new position in Halliburton during the 3rd quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new position in Halliburton during the 3rd quarter valued at approximately $25,000. Finally, DV Equities LLC bought a new position in Halliburton during the 4th quarter valued at approximately $33,000. Institutional investors own 85.23% of the company’s stock.

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Halliburton Company Profile

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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.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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