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

Halliburton (NYSE:HAL) had its target price lifted by Citigroup from $45.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the oilfield services company’s stock.

A number of other research analysts also recently issued reports on the stock. Susquehanna restated a positive rating and issued a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. Raymond James dropped their target price on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated an outperform rating and set a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Barclays dropped their target price on shares of Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a research report on Wednesday, January 24th. Finally, TD Cowen boosted their target price on shares of Halliburton from $47.00 to $48.00 and gave the company a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $48.82.

Halliburton Stock Down 0.5 %

Shares of NYSE HAL opened at $38.54 on Wednesday. The company has a market capitalization of $34.12 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12. The company’s 50 day moving average price is $37.88 and its 200-day moving average price is $37.39.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. Equities analysts forecast that Halliburton will post 3.4 earnings per share for the current year.

Insider Buying and Selling at Halliburton

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halliburton

Several institutional investors have recently added to or reduced their stakes in the business. Conning Inc. lifted its holdings in Halliburton by 9.5% during the first quarter. Conning Inc. now owns 6,752 shares of the oilfield services company’s stock valued at $266,000 after purchasing an additional 588 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in Halliburton by 35.6% during the first quarter. Foster Victor Wealth Advisors LLC now owns 330,733 shares of the oilfield services company’s stock valued at $13,540,000 after purchasing an additional 86,740 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Halliburton by 9.8% during the first quarter. Pinnacle Associates Ltd. now owns 7,867 shares of the oilfield services company’s stock valued at $310,000 after purchasing an additional 703 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Halliburton during the first quarter valued at about $414,000. Finally, Strategy Asset Managers LLC lifted its holdings in Halliburton by 25.3% during the first quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock valued at $797,000 after purchasing an additional 4,086 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.