Halliburton (NYSE:HAL) Stock Price Expected to Rise, UBS Group Analyst Says

Halliburton (NYSE:HAL) had its target price upped by analysts at UBS Group from $39.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oilfield services company’s stock. UBS Group’s price objective suggests a potential upside of 19.36% from the stock’s current price.

HAL has been the topic of a number of other reports. Capital One Financial boosted their price target on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Friday, April 10th. Stifel Nicolaus reiterated a “buy” rating and set a $43.00 price target (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Citigroup raised their price target on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Evercore boosted their price objective on shares of Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Halliburton Stock Up 1.5%

HAL opened at $33.51 on Thursday. The company has a market cap of $28.00 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.47 and a beta of 0.72. Halliburton has a 12 month low of $20.17 and a 12 month high of $43.59. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $39.12 and its 200-day moving average price is $35.79.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities analysts expect that Halliburton will post 2.34 EPS for the current year.

Insider Activity

In related news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy Mckeon sold 8,655 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the sale, the vice president owned 72,976 shares in the company, valued at $3,064,992. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Halliburton

A number of hedge funds have recently bought and sold shares of HAL. Nvest Wealth Strategies Inc. bought a new stake in shares of Halliburton during the 4th quarter valued at about $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton in the third quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the second quarter worth approximately $25,000. Zions Bancorporation National Association UT grew its position in Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 650 shares during the period. Finally, Strive Asset Management LLC bought a new position in Halliburton in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Company Profile

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.