Halliburton (NYSE:HAL) Price Target Increased to $51.00 by Analysts at UBS Group

Halliburton (NYSE:HAL) had its target price increased by equities researchers at UBS Group from $46.00 to $51.00 in a report released on Tuesday. The firm currently has a “buy” rating on the oilfield services company’s stock. UBS Group’s target price suggests a potential upside of 32.16% from the stock’s previous close.

Several other equities analysts also recently weighed in on HAL. Morgan Stanley raised their price target on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research report on Monday. TD Cowen lifted their price objective on Halliburton from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday. Finally, Barclays lowered their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. One research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.00.

Halliburton Stock Down 0.3 %

Halliburton stock traded down $0.13 on Tuesday, hitting $38.59. 903,336 shares of the stock traded hands, compared to its average volume of 7,036,228. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. The firm has a market cap of $34.21 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The business’s fifty day simple moving average is $37.57 and its 200 day simple moving average is $37.39. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same period last year, the company earned $0.72 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Halliburton will post 3.42 earnings per share for the current year.

Insider Transactions at Halliburton

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

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Halliburton by 1.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,378,416 shares of the oilfield services company’s stock worth $93,757,000 after buying an additional 25,470 shares during the period. Confluence Wealth Services Inc. lifted its holdings in shares of Halliburton by 10.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,309 shares of the oilfield services company’s stock worth $328,000 after buying an additional 814 shares during the period. Raymond James & Associates lifted its holdings in shares of Halliburton by 3.6% in the 1st quarter. Raymond James & Associates now owns 3,959,002 shares of the oilfield services company’s stock worth $156,064,000 after buying an additional 135,832 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Halliburton in the 1st quarter worth $108,000. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Halliburton by 6.3% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 36,142 shares of the oilfield services company’s stock worth $1,425,000 after purchasing an additional 2,135 shares during the last quarter. 85.23% of the stock is currently 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.