Susquehanna Increases Halliburton (NYSE:HAL) Price Target to $45.00
by Renee Jackson · The Cerbat GemHalliburton (NYSE:HAL – Get Free Report) had its price objective increased by Susquehanna from $40.00 to $45.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a “positive” rating on the oilfield services company’s stock. Susquehanna’s target price would suggest a potential upside of 18.89% from the stock’s previous close.
Several other research firms also recently issued reports on HAL. Argus lifted their price target on shares of Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their price target on shares of Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on shares of Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Barclays lifted their price target on shares of Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Finally, BMO Capital Markets raised their price objective on Halliburton from $39.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.29.
Check Out Our Latest Analysis on Halliburton
Halliburton Stock Performance
NYSE HAL opened at $37.85 on Tuesday. The company has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $30.24. Halliburton has a 12-month low of $18.75 and a 12-month high of $41.18. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. The company has a market cap of $31.61 billion, a P/E ratio of 25.01, a PEG ratio of 2.33 and a beta of 0.68.
Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $0.73 EPS. Halliburton’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Halliburton will post 2.64 earnings per share for the current fiscal year.
Insider Buying and Selling at Halliburton
In other Halliburton news, EVP Van H. Beckwith sold 54,348 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares in the company, valued at approximately $12,044,943.60. This trade represents a 13.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret Katherine Banks sold 2,600 shares of Halliburton stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total value of $88,842.00. Following the sale, the director owned 14,043 shares in the company, valued at $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 415,508 shares of company stock worth $15,291,882. 0.56% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Halliburton
Hedge funds have recently made changes to their positions in the business. Contravisory Investment Management Inc. purchased a new stake in Halliburton in the 4th quarter worth about $1,054,000. Bank of New York Mellon Corp increased its holdings in Halliburton by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,929,285 shares of the oilfield services company’s stock worth $145,860,000 after acquiring an additional 96,394 shares during the last quarter. Tejara Capital Ltd increased its holdings in Halliburton by 98.8% in the 3rd quarter. Tejara Capital Ltd now owns 134,365 shares of the oilfield services company’s stock worth $3,305,000 after acquiring an additional 66,765 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Halliburton in the 3rd quarter worth about $1,775,000. Finally, New York State Common Retirement Fund increased its holdings in Halliburton by 12.8% in the 3rd quarter. New York State Common Retirement Fund now owns 1,645,526 shares of the oilfield services company’s stock worth $40,480,000 after acquiring an additional 186,105 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.
About Halliburton
Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.
The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.