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

Halliburton (NYSE:HAL) had its price objective boosted by UBS Group from $46.00 to $51.00 in a report published on Tuesday morning. The firm currently has a buy rating on the oilfield services company’s stock.

HAL has been the subject of several other research reports. TD Cowen upped their price objective on shares of Halliburton from $49.00 to $51.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an outperform rating and issued a $45.00 price objective on shares of Halliburton in a report on Wednesday, January 24th. Susquehanna reaffirmed a positive rating and issued a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Barclays reduced their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Finally, Raymond James cut their price target on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating for the company 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 company. According to MarketBeat, Halliburton presently has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Stock Down 0.5 %

Halliburton stock opened at $38.54 on Tuesday. The company has a 50-day simple moving average of $37.88 and a 200-day simple moving average of $37.39. The firm has a market capitalization of $34.16 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.00 and a beta of 2.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12. Halliburton has a one year low of $27.84 and a one year high of $43.85.

Halliburton (NYSE:HAL) last released its quarterly 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. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts expect that Halliburton will post 3.41 earnings per share for the current year.

Insiders Place Their Bets

In other Halliburton 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 transaction of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Halliburton 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 transaction of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, 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. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of large investors have recently made changes to their positions in HAL. Norges Bank acquired a new position in shares of Halliburton in the 4th quarter valued at about $400,070,000. Dimensional Fund Advisors LP increased its holdings in shares of Halliburton by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock valued at $284,822,000 after purchasing an additional 1,568,485 shares during the period. Sourcerock Group LLC increased its holdings in shares of Halliburton by 237.6% in the 3rd quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after purchasing an additional 1,180,406 shares during the period. Wellington Management Group LLP increased its holdings in shares of Halliburton by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock valued at $224,770,000 after purchasing an additional 962,547 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Halliburton by 51.2% in the 4th quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock valued at $91,787,000 after purchasing an additional 859,440 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

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.