The Goldman Sachs Group Boosts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its price target upped by The Goldman Sachs Group from $46.00 to $48.00 in a research note released on Tuesday morning.

Several other research analysts have also recently weighed in on the company. Barclays decreased their target price on Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. UBS Group raised their target price on Halliburton from $44.00 to $48.00 in a research note on Monday, January 22nd. TD Cowen upped their target price on Halliburton from $49.00 to $51.00 and gave the company an outperform rating in a report on Wednesday, January 24th. StockNews.com raised Halliburton from a hold rating to a buy rating in a report on Monday. Finally, Raymond James reduced their target price on Halliburton from $49.00 to $47.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $48.82.

Halliburton Stock Performance

Shares of HAL stock opened at $38.72 on Tuesday. The stock has a 50-day simple moving average of $37.81 and a 200 day simple moving average of $37.41. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85. The stock has a market capitalization of $34.32 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.00 and a beta of 2.00. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Halliburton will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was 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 approximately $339,762.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Margaret Katherine Banks sold 5,000 shares of the firm’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 approximately $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Hedge funds and other institutional investors have recently made changes to their positions in the company. MCF Advisors LLC increased its holdings in shares of Halliburton by 5.3% during the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after acquiring an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of Halliburton by 0.7% during 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 acquiring an additional 250 shares during the last quarter. Nvwm LLC increased its holdings in shares of Halliburton by 1.2% during the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after acquiring an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Halliburton by 3.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after acquiring an additional 263 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Halliburton by 2.3% during 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 acquiring an additional 268 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.