Jefferies Group Reiterates $62.00 Price Target for Halliburton (HAL)

Jefferies Group set a $62.00 price target on Halliburton (NYSE:HAL) in a research report released on Wednesday. The brokerage currently has a buy rating on the oilfield services company’s stock. Jefferies Group also issued estimates for Halliburton’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.66 EPS, FY2018 earnings at $2.20 EPS and FY2020 earnings at $4.75 EPS.

Other research analysts also recently issued research reports about the stock. B. Riley raised their target price on shares of Halliburton from $55.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Credit Suisse Group reaffirmed an outperform rating and issued a $65.00 target price (up previously from $55.00) on shares of Halliburton in a research report on Tuesday, January 23rd. Piper Jaffray set a $52.00 target price on shares of Halliburton and gave the company a buy rating in a research report on Thursday, December 14th. Sanford C. Bernstein set a $60.00 target price on shares of Halliburton and gave the company a buy rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research downgraded shares of Halliburton from a buy rating to a hold rating in a research report on Wednesday, March 14th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $58.70.

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Shares of HAL stock opened at $47.00 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 1.25. Halliburton has a 12-month low of $38.18 and a 12-month high of $57.86. The firm has a market cap of $41,715.70, a PE ratio of 38.52, a P/E/G ratio of 2.36 and a beta of 1.06.

Halliburton (NYSE:HAL) last released its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.63 billion. Halliburton had a negative net margin of 2.25% and a positive return on equity of 11.95%. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. research analysts anticipate that Halliburton will post 2.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 6th. Halliburton’s dividend payout ratio is presently 59.02%.

In other news, insider Timothy Mckeon sold 4,583 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $54.95, for a total transaction of $251,835.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Allen Miller sold 29,025 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $55.00, for a total transaction of $1,596,375.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,856 shares of company stock valued at $5,609,578. 0.46% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of HAL. Sanders Capital LLC acquired a new stake in shares of Halliburton during the 4th quarter worth about $163,920,000. Beutel Goodman & Co Ltd. acquired a new stake in shares of Halliburton during the 4th quarter worth about $118,644,000. BlackRock Inc. lifted its stake in shares of Halliburton by 3.9% during the 4th quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock worth $3,119,761,000 after buying an additional 2,421,658 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Halliburton during the 4th quarter worth about $105,979,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Halliburton by 409.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,203,182 shares of the oilfield services company’s stock worth $107,670,000 after buying an additional 1,770,781 shares during the last quarter. Institutional investors own 80.26% of the company’s stock.

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Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

Analyst Recommendations for Halliburton (NYSE:HAL)

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