Halliburton Co. (HAL) PT Raised to $57.00
Halliburton Co. (NYSE:HAL) had its price objective hoisted by research analysts at Citigroup Inc. from $52.00 to $57.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the oilfield services company’s stock. Citigroup Inc.’s price target suggests a potential upside of 21.38% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Simmons increased their price objective on shares of Halliburton from $48.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, June 21st. Seaport Global Securities reiterated a “buy” rating on shares of Halliburton in a research report on Thursday, July 21st. Johnson Rice reiterated an “accumulate” rating on shares of Halliburton in a research report on Monday, July 25th. Vetr lowered shares of Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price objective for the company. in a research report on Tuesday, September 6th. Finally, Iberia Capital reiterated an “outperform” rating and set a $50.00 price objective on shares of Halliburton in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and an average target price of $47.17.
Shares of Halliburton (NYSE:HAL) opened at 46.96 on Tuesday. The stock’s 50 day moving average is $43.58 and its 200-day moving average is $42.41. Halliburton has a 12-month low of $27.64 and a 12-month high of $47.64. The company’s market capitalization is $40.44 billion.
Halliburton (NYSE:HAL) last posted its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The company earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. Halliburton’s quarterly revenue was down 35.2% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. Analysts anticipate that Halliburton will post ($0.18) earnings per share for the current year.
In other Halliburton news, insider James S. Brown sold 28,439 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $47.00, for a total value of $1,336,633.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HAL. Johnson Financial Group Inc. boosted its position in Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock worth $103,000 after buying an additional 772 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock worth $104,000 after buying an additional 379 shares during the last quarter. Manchester Capital Management LLC boosted its position in Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock worth $117,000 after buying an additional 648 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Halliburton during the second quarter worth approximately $120,000. 79.64% of the stock is currently owned by institutional investors.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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