TD Cowen Increases Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its target price boosted by TD Cowen from $47.00 to $48.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the oilfield services company’s stock.

HAL has been the topic of several other reports. Barclays reduced their price target on Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. UBS Group boosted their price target on Halliburton from $46.00 to $51.00 and gave the stock a buy rating in a report on Tuesday. Royal Bank of Canada restated an outperform rating and set a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. StockNews.com upgraded Halliburton from a hold rating to a buy rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Stock Performance

Halliburton stock opened at $38.72 on Wednesday. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $37.75 and its two-hundred day moving average price is $37.40. The stock has a market cap of $34.32 billion, a PE ratio of 13.40, a P/E/G ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that Halliburton will post 3.42 earnings per share for the current fiscal 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 that occurred on 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 transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC raised its position in Halliburton by 5.3% in the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after buying an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI grew its stake in Halliburton by 0.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after purchasing an additional 250 shares during the period. Nvwm LLC grew its stake in Halliburton by 1.2% in the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after purchasing an additional 259 shares during the period. Stratos Wealth Advisors LLC grew its stake in Halliburton by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after purchasing an additional 263 shares during the period. Finally, Lake Street Advisors Group LLC grew its stake in Halliburton by 2.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after purchasing an additional 268 shares during the period. 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.