Rothschild & Co Redburn Increases Halliburton (NYSE:HAL) Price Target to $40.00

Halliburton (NYSE:HAL) had its price target increased by investment analysts at Rothschild & Co Redburn from $35.00 to $40.00 in a research report issued on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Rothschild & Co Redburn’s price target suggests a potential upside of 15.06% from the company’s previous close.

A number of other analysts have also recently commented on the company. Evercore lifted their price target on Halliburton from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Thursday, January 22nd. Capital One Financial lifted their target price on Halliburton from $25.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Citigroup lifted their price objective on Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, HSBC set a $30.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $35.19.

Halliburton Stock Performance

Shares of Halliburton stock traded down $0.61 during midday trading on Wednesday, hitting $34.76. The company had a trading volume of 4,571,463 shares, compared to its average volume of 14,770,956. The company has a fifty day simple moving average of $31.69 and a 200 day simple moving average of $26.88. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.07 and a beta of 0.77. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. Halliburton has a 12-month low of $18.72 and a 12-month high of $35.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. Halliburton’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 EPS. As a group, analysts predict that Halliburton will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 2,600 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total transaction of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares in the company, valued at approximately $479,849.31. This represents a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $5,985,152.00. Following the sale, the chief executive officer directly owned 1,101,243 shares of the company’s stock, valued at $38,499,455.28. The trade was a 13.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 337,002 shares of company stock worth $11,445,938. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors boosted its holdings in Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after acquiring an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC acquired a new stake in shares of Halliburton in the 3rd quarter valued at about $418,738,000. Norges Bank acquired a new stake in shares of Halliburton in the fourth quarter valued at approximately $169,304,000. Finally, Holocene Advisors LP acquired a new stake in shares of Halliburton in the third quarter valued at approximately $147,315,000. 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.