Halliburton (HAL) Given a $60.00 Price Target at JPMorgan Chase & Co.

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Halliburton (NYSE:HAL) has been assigned a $60.00 price objective by stock analysts at JPMorgan Chase & Co. in a report released on Monday, September 17th. The brokerage presently has a “buy” rating on the oilfield services company’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 51.52% from the stock’s current price.

HAL has been the topic of a number of other reports. Citigroup cut their price objective on shares of Halliburton from $61.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, June 25th. Credit Suisse Group set a $51.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Thursday, September 6th. Wells Fargo & Co lifted their price objective on shares of Halliburton from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, May 24th. Raymond James cut their price objective on shares of Halliburton from $62.00 to $59.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 24th. Finally, Royal Bank of Canada set a $54.00 target price on Halliburton and gave the stock a “buy” rating in a report on Tuesday, July 24th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Halliburton presently has an average rating of “Buy” and an average price target of $53.56.

Shares of NYSE HAL traded down $0.15 during midday trading on Monday, reaching $39.60. 7,750,654 shares of the company traded hands, compared to its average volume of 8,868,158. Halliburton has a 52 week low of $35.75 and a 52 week high of $57.86. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 1.18. The stock has a market cap of $35.66 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.54 and a beta of 1.01.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Halliburton had a net margin of 0.42% and a return on equity of 19.48%. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Halliburton’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Halliburton will post 1.99 earnings per share for the current fiscal year.

In related news, Director Murry Gerber purchased 5,800 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were purchased at an average price of $40.66 per share, with a total value of $235,828.00. Following the purchase, the director now owns 60,961 shares of the company’s stock, valued at approximately $2,478,674.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Avestar Capital LLC boosted its position in Halliburton by 1,159.6% during the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after acquiring an additional 2,180 shares during the period. Sun Life Financial INC boosted its position in Halliburton by 1,170.1% during the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after acquiring an additional 2,188 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in Halliburton during the 1st quarter worth about $129,000. Squar Milner Financial Services LLC acquired a new stake in Halliburton during the 2nd quarter worth about $130,000. Finally, Banco de Sabadell S.A acquired a new stake in Halliburton during the 2nd quarter worth about $136,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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