Halliburton (NYSE:HAL) Given New $40.00 Price Target at UBS Group

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

HAL has been the subject of a number of other reports. Stifel Nicolaus reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Citigroup boosted their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Piper Sandler lifted their price target on Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Susquehanna upped their price objective on Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.32.

Halliburton Price Performance

Shares of HAL stock opened at $33.51 on Thursday. Halliburton has a 52-week low of $20.17 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The firm has a market capitalization 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. The stock has a 50 day moving average price of $39.12 and a 200 day moving average price of $35.79.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts predict that Halliburton will post 2.34 earnings per share for the current year.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Halliburton

Several large investors have recently bought and sold shares of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after purchasing an additional 6,507 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Halliburton by 39.0% in the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after purchasing an additional 20,583 shares during the last quarter. Focus Partners Wealth lifted its position in Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after buying an additional 10,408 shares in the last quarter. Intech Investment Management LLC lifted its position in Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after buying an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Halliburton during the first quarter worth $895,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.