Halliburton (NYSE:HAL) Price Target Raised to $50.00 at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective increased by Morgan Stanley from $45.00 to $50.00 in a report released on Tuesday morning. They currently have an overweight rating on the oilfield services company’s stock.

HAL has been the subject of several other reports. UBS Group boosted their target price on Halliburton from $44.00 to $48.00 in a research note on Monday, January 22nd. StockNews.com raised Halliburton from a hold rating to a buy rating in a research note on Monday, April 22nd. Raymond James lowered their target price on Halliburton from $49.00 to $47.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Susquehanna reaffirmed a positive rating and set a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Halliburton currently has an average rating of Buy and an average target price of $48.82.

Halliburton Trading Down 0.5 %

Shares of NYSE HAL opened at $38.54 on Tuesday. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $37.88 and a 200-day simple moving average of $37.39. The stock has a market capitalization of $34.16 billion, a PE ratio of 13.34, a PEG ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the previous year, the firm posted $0.72 EPS. Halliburton’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts forecast that Halliburton will post 3.41 earnings per share for the current year.

Insider Activity

In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was 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 directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its position in Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after purchasing an additional 561,020 shares during the period. Cerity Partners LLC grew its holdings in shares of Halliburton by 69.5% in the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock worth $7,472,000 after acquiring an additional 84,771 shares during the period. KLCM Advisors Inc. grew its holdings in shares of Halliburton by 6.9% in the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock worth $17,722,000 after acquiring an additional 31,534 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Halliburton by 65.4% in the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock worth $2,094,000 after acquiring an additional 22,906 shares during the period. Finally, CX Institutional acquired a new stake in shares of Halliburton in the 3rd quarter worth approximately $344,000. 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.