Citigroup Raises Halliburton (NYSE:HAL) Price Target to $50.00

Halliburton (NYSE:HAL) had its price target raised by equities research analysts at Citigroup from $45.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the oilfield services company’s stock. Citigroup’s price target suggests a potential upside of 29.40% from the stock’s current price.

A number of other research firms have also recently commented on HAL. UBS Group raised their price target on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James reduced 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. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. The Goldman Sachs Group lifted their price objective on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $45.00 price objective on shares of Halliburton in a report on Wednesday. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $48.82.

Halliburton Trading Up 0.1 %

Shares of HAL traded up $0.05 during trading hours on Wednesday, hitting $38.64. 5,368,583 shares of the stock were exchanged, compared to its average volume of 7,123,295. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. The business has a 50-day moving average of $37.66 and a 200-day moving average of $37.39. The firm has a market capitalization of $34.25 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Halliburton’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that Halliburton will post 3.42 EPS for the current year.

Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton 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 sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton 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 sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 completion of the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Halliburton

Several large investors have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Halliburton by 0.4% in the fourth quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock worth $4,394,077,000 after purchasing an additional 479,877 shares in the last quarter. Sanders Capital LLC increased its stake in shares of Halliburton by 3.4% in the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after purchasing an additional 782,093 shares in the last quarter. Norges Bank purchased a new position in shares of Halliburton in the fourth quarter worth about $400,070,000. Northern Trust Corp increased its stake in shares of Halliburton by 3.0% in the third quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock worth $372,687,000 after purchasing an additional 265,680 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Halliburton by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after acquiring an additional 448,548 shares in the last quarter. Hedge funds and other institutional investors 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.