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

Halliburton (NYSE:HAL) had its price target increased by equities researchers at TD Cowen from $47.00 to $48.00 in a research report issued on Wednesday, Briefing.com reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. TD Cowen’s price objective would suggest a potential upside of 24.42% from the company’s current price.

A number of other brokerages have also issued reports on HAL. Morgan Stanley increased their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com raised shares of Halliburton from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a research note on Wednesday, January 24th. Barclays dropped their price objective on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, Raymond James dropped their price objective on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.81.

Halliburton Price Performance

Shares of NYSE:HAL opened at $38.58 on Wednesday. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The stock has a market capitalization of $34.20 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. The firm’s 50 day moving average price is $37.66 and its 200-day moving average price is $37.39. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.81.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter last year, the business earned $0.72 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts expect that Halliburton will post 3.42 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the sale, 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 can be accessed through the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction 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 Trading of Halliburton

A number of hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in Halliburton by 0.4% in the fourth quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock worth $4,394,077,000 after acquiring an additional 479,877 shares during the period. Sanders Capital LLC lifted its position in shares of Halliburton by 3.4% during the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after buying an additional 782,093 shares during the last quarter. Norges Bank purchased a new stake in shares of Halliburton during the fourth quarter valued at about $400,070,000. Northern Trust Corp lifted its position in shares of Halliburton by 3.0% during the third quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock valued at $372,687,000 after buying an additional 265,680 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Halliburton by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after buying an additional 448,548 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

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.