Halliburton (NYSE:HAL) Price Target Raised to $49.00

Halliburton (NYSE:HAL) had its price objective lifted by equities research analysts at Rothschild & Co Redburn from $40.00 to $49.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has a “buy” rating on the oilfield services company’s stock. Rothschild & Co Redburn’s target price indicates a potential upside of 18.45% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Morgan Stanley raised their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. UBS Group lifted their price target on Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Citigroup increased their price objective on Halliburton from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets raised their price objective on Halliburton from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.45.

Halliburton Price Performance

NYSE:HAL traded up $0.08 during trading hours on Friday, reaching $41.37. 669,657 shares of the company were exchanged, compared to its average volume of 14,772,198. 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 firm has a market cap of $34.56 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.73. Halliburton has a twelve month low of $19.38 and a twelve month high of $42.46. The stock’s 50-day moving average is $38.09 and its 200-day moving average is $33.06.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Halliburton will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Halliburton

In other Halliburton news, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the sale, the vice president directly owned 72,976 shares in the company, valued at $3,064,992. This represents a 10.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 19,618 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $33.82, for a total value of $663,480.76. Following the completion of the sale, the executive vice president directly owned 344,535 shares of the company’s stock, valued at $11,652,173.70. This trade represents a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,488 shares of company stock valued at $8,789,305 in the last three months. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in Halliburton by 81.8% in the 3rd 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 buying an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Halliburton by 82,596.0% during 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 during the last quarter. Strive Asset Management LLC purchased a new stake in shares of Halliburton in the 3rd quarter valued at approximately $418,738,000. Norges Bank acquired a new position in shares of Halliburton in the 4th quarter worth approximately $169,304,000. Finally, Holocene Advisors LP acquired a new position in shares of Halliburton in the 3rd quarter worth approximately $147,315,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.