The Goldman Sachs Group Boosts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its price target upped by The Goldman Sachs Group from $46.00 to $48.00 in a research note published on Tuesday morning.

Several other brokerages have also issued reports on HAL. StockNews.com raised shares of Halliburton from a hold rating to a buy rating in a research note on Monday, April 22nd. UBS Group increased their target price on shares of Halliburton from $44.00 to $48.00 in a research note on Monday, January 22nd. Barclays lowered their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. 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. Finally, Morgan Stanley upped their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $48.82.

Halliburton Trading Down 0.5 %

NYSE:HAL opened at $38.54 on Tuesday. The firm’s fifty day moving average is $37.88 and its 200-day moving average is $37.39. 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 52 week low of $27.84 and a 52 week high of $43.85. The firm has a market cap 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.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $5.80 billion for 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%. Halliburton’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts expect that Halliburton will post 3.41 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Halliburton

A number of large investors have recently added to or reduced their stakes in HAL. CWM LLC boosted its position in Halliburton by 8.9% during the third quarter. CWM LLC now owns 23,253 shares of the oilfield services company’s stock worth $942,000 after purchasing an additional 1,910 shares during the period. IFP Advisors Inc boosted its position in Halliburton by 185.6% during the third quarter. IFP Advisors Inc now owns 12,706 shares of the oilfield services company’s stock worth $515,000 after purchasing an additional 8,257 shares during the period. Impact Partnership Wealth LLC bought a new position in Halliburton during the third quarter worth about $45,000. Meridian Wealth Management LLC boosted its position in Halliburton by 14.7% during the third quarter. Meridian Wealth Management LLC now owns 37,272 shares of the oilfield services company’s stock worth $1,510,000 after purchasing an additional 4,764 shares during the period. Finally, Caprock Group LLC boosted its position in Halliburton by 26.4% during the third quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock worth $1,044,000 after purchasing an additional 5,384 shares during the period. Hedge funds and other institutional investors 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.