Halliburton (NYSE:HAL) Price Target Raised to $48.00

Halliburton (NYSE:HAL) had its price target upped by stock analysts at The Goldman Sachs Group from $46.00 to $48.00 in a research report issued to clients and investors on Tuesday. The Goldman Sachs Group’s price objective indicates a potential upside of 24.38% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a report on Wednesday, January 24th. Raymond James reduced their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Barclays reduced their target price on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. UBS Group upped their price target on Halliburton from $44.00 to $48.00 in a report on Monday, January 22nd. Finally, TD Cowen upped their price target on Halliburton from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $49.00.

Halliburton Stock Down 0.3 %

Shares of Halliburton stock traded down $0.13 during trading on Tuesday, hitting $38.59. 903,336 shares of the stock traded hands, compared to its average volume of 7,036,228. The stock has a market cap of $34.21 billion, a P/E ratio of 13.08, a PEG ratio of 1.00 and a beta of 2.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The company has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $37.39.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.78 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities research analysts predict that Halliburton will post 3.42 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now 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 currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently bought and sold shares of HAL. CWM LLC lifted its stake in shares of Halliburton by 8.9% during the third quarter. CWM LLC now owns 23,253 shares of the oilfield services company’s stock valued at $942,000 after acquiring an additional 1,910 shares during the period. IFP Advisors Inc lifted its stake in shares of Halliburton by 185.6% during the third quarter. IFP Advisors Inc now owns 12,706 shares of the oilfield services company’s stock valued at $515,000 after acquiring an additional 8,257 shares during the period. Impact Partnership Wealth LLC acquired a new position in shares of Halliburton during the third quarter valued at $45,000. Meridian Wealth Management LLC lifted its stake in shares of Halliburton by 14.7% during the third quarter. Meridian Wealth Management LLC now owns 37,272 shares of the oilfield services company’s stock valued at $1,510,000 after acquiring an additional 4,764 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of Halliburton by 26.4% during the third quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock valued at $1,044,000 after acquiring an additional 5,384 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.