Halliburton (NYSE:HAL) Price Target Increased to $50.00 by Analysts at Citigroup

Halliburton (NYSE:HAL) had its target price boosted by Citigroup from $45.00 to $50.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

Several other research analysts also recently commented on HAL. Susquehanna reaffirmed a positive rating and issued a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Morgan Stanley raised their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday, April 23rd. TD Cowen increased their target price on shares of Halliburton from $47.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday. Royal Bank of Canada reiterated an outperform rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. Finally, Raymond James lowered their target price on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $48.82.

Halliburton Stock Down 0.5 %

Halliburton stock opened at $38.54 on Wednesday. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The firm has a 50 day moving average price of $37.88 and a 200-day moving average price of $37.36. The company has a market capitalization of $34.12 billion, a P/E ratio of 13.34, 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 released its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. As a group, equities analysts predict that Halliburton will post 3.4 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’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 sale, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on 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 transaction, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on 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 transaction, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors raised its position in Halliburton by 0.4% in the 4th quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock worth $4,394,077,000 after purchasing an additional 479,877 shares during the period. Sanders Capital LLC grew its holdings in Halliburton by 3.4% in the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after acquiring an additional 782,093 shares during the last quarter. Norges Bank bought a new stake in Halliburton in the 4th quarter worth $400,070,000. Northern Trust Corp grew its holdings in Halliburton by 3.0% in the 3rd quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock worth $372,687,000 after acquiring an additional 265,680 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Halliburton by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock worth $359,283,000 after acquiring an additional 448,548 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

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.