Halliburton Co. (HAL) Given New $58.00 Price Target at FBR & Co
Halliburton Co. (NYSE:HAL) had its price target boosted by FBR & Co from $53.00 to $58.00 in a research report report published on Friday morning. They currently have an outperform rating on the oilfield services company’s stock.
HAL has been the topic of a number of other research reports. Societe Generale downgraded shares of Halliburton from a buy rating to a hold rating and raised their target price for the company from $46.00 to $50.00 in a research note on Monday, July 18th. Vetr downgraded shares of Halliburton from a strong-buy rating to a buy rating and set a $50.00 target price on the stock. in a research note on Thursday, June 30th. Nomura reissued a buy rating and issued a $53.00 target price on shares of Halliburton in a research note on Thursday, July 21st. Simmons raised their target price on shares of Halliburton from $48.00 to $60.00 and gave the company an overweight rating in a research note on Tuesday, June 21st. Finally, Atlantic Securities initiated coverage on shares of Halliburton in a research note on Monday, August 8th. They issued an underweight rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Halliburton has a consensus rating of Buy and an average price target of $47.30.
Halliburton (NYSE:HAL) traded down 1.09% during midday trading on Friday, hitting $46.46. 2,626,918 shares of the stock traded hands. Halliburton has a 1-year low of $27.64 and a 1-year high of $47.96. The company has a 50-day moving average of $43.73 and a 200-day moving average of $42.52. The stock’s market cap is $40.01 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was down 35.2% compared to the same quarter last year. On average, equities analysts expect that Halliburton will post ($0.18) EPS for the current fiscal year.
In other Halliburton news, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of HAL. Brown Advisory Inc. increased its stake in Halliburton by 15.1% in the second quarter. Brown Advisory Inc. now owns 41,655 shares of the oilfield services company’s stock valued at $1,886,000 after buying an additional 5,472 shares in the last quarter. Schroder Investment Management Group increased its stake in Halliburton by 497.8% in the second quarter. Schroder Investment Management Group now owns 2,473,431 shares of the oilfield services company’s stock valued at $112,022,000 after buying an additional 2,059,670 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Halliburton during the second quarter valued at about $904,000. Atalanta Sosnoff Capital LLC purchased a new stake in Halliburton during the second quarter valued at about $24,549,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Halliburton by 57.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,600,743 shares of the oilfield services company’s stock valued at $72,498,000 after buying an additional 585,342 shares in the last quarter. 79.74% of the stock is owned by institutional investors.
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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