BMO Capital Markets Forecasts Strong Price Appreciation for Halliburton (NYSE:HAL) Stock

Halliburton (NYSE:HAL) had its target price lifted by BMO Capital Markets from $31.00 to $36.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the oilfield services company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.79% from the company’s previous close.

A number of other research firms also recently issued reports on HAL. Rothschild & Co Redburn assumed coverage on shares of Halliburton in a research report on Monday, November 3rd. They set a “buy” rating and a $35.00 price target for the company. Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Redburn Partners set a $35.00 target price on Halliburton in a research report on Monday, November 3rd. Barclays raised their price target on Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Finally, Bank of America boosted their price objective on shares of Halliburton from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $33.57.

Halliburton Price Performance

Halliburton stock traded down $0.25 during midday trading on Monday, reaching $32.79. The company’s stock had a trading volume of 9,752,877 shares, compared to its average volume of 18,015,135. The firm has a market capitalization of $27.60 billion, a PE ratio of 21.72 and a beta of 0.78. Halliburton has a fifty-two week low of $18.72 and a fifty-two week high of $33.72. The stock’s 50 day simple moving average is $28.19 and its 200 day simple moving average is $24.74. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Halliburton will post 2.64 earnings per share for the current year.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 8,854 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $27.89, for a total value of $246,938.06. Following the sale, the executive vice president directly owned 333,528 shares of the company’s stock, valued at approximately $9,302,095.92. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lawrence J. Pope sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the transaction, the executive vice president directly owned 419,800 shares of the company’s stock, valued at $13,538,550. This trade represents a 19.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 268,854 shares of company stock valued at $7,915,138. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAL. Cullen Frost Bankers Inc. purchased a new position in shares of Halliburton in the third quarter valued at $25,000. Kelleher Financial Advisors purchased a new position in Halliburton in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. purchased a new position in Halliburton in the 2nd quarter valued at about $25,000. Strive Asset Management LLC acquired a new stake in shares of Halliburton during the third quarter valued at about $31,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Halliburton during the third quarter worth about $32,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton promoted Casey Maxwell to president, Western Hemisphere (effective Feb. 1), a leadership move framed as continuity and deeper regional operational experience that could help execution in key markets such as the Permian and Argentina. Halliburton Appoints New Western Hemisphere President
• Positive Sentiment: An analyst raised HAL’s price target to $36, signalling bullish analyst sentiment that can support further upside if results and guidance meet expectations. Analyst raises Halliburton (HAL) price target to $36
• Positive Sentiment: Momentum: HAL recently hit a 52-week high, reflecting improving market sentiment and investor appetite for oilfield services exposure amid resilient oil & gas activity. Halliburton stock hits 52-week high at 33.04 USD
• Positive Sentiment: Street expectations: Zacks and others flag that Halliburton appears positioned to beat Q4 estimates (revenue and EPS), which could be a catalyst if the upcoming release confirms upside. Halliburton (HAL) Expected to Beat Earnings Estimates
• Neutral Sentiment: Geopolitical/operational update: The FT reports Halliburton expects a speedy return to Venezuela and downplays risks — this could unlock new revenue but carries execution and sanction-related risks that investors should watch. Halliburton expects speedy return to Venezuela and plays down risks
• Neutral Sentiment: Upcoming catalyst: Halliburton is scheduled to report quarterly results this week — the print and any guidance will likely be the primary near-term driver of the share price. Halliburton (HAL) to Release Quarterly Earnings on Wednesday
• Negative Sentiment: Insider/insider-related activity: A report notes Representative Gilbert Ray Cisneros Jr. sold HAL shares — such filings can spook short-term sentiment even if not material to company fundamentals. Halliburton (NYSE:HAL) Stock Unloaded Rep. Gilbert Ray Cisneros, Jr.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.