Halliburton Company (HAL) Given a $55.00 Price Target at Royal Bank Of Canada
Halliburton Company (NYSE:HAL) has been given a $55.00 target price by equities researchers at Royal Bank Of Canada in a research note issued to investors on Sunday. The brokerage currently has a “buy” rating on the oilfield services company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 22.99% from the stock’s current price.
HAL has been the subject of a number of other reports. ValuEngine cut shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. HSBC Holdings plc reissued a “buy” rating and issued a $62.00 price objective (down previously from $65.00) on shares of Halliburton in a report on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating on shares of Halliburton in a report on Monday, June 26th. Guggenheim lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co dropped their price objective on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.70.
Halliburton (NYSE HAL) opened at 44.72 on Friday. The stock’s market capitalization is $38.98 billion. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78. The firm has a 50 day moving average of $42.90 and a 200-day moving average of $44.06.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) earnings per share. On average, equities analysts predict that Halliburton will post $1.12 EPS for the current year.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Financial Group Inc. purchased a new position in Halliburton in the 1st quarter valued at $100,000. Perigon Wealth Management LLC grew its position in Halliburton by 0.8% in the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares during the last quarter. Ledyard National Bank grew its position in Halliburton by 6.5% in the 2nd quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after buying an additional 150 shares during the last quarter. Bbva Compass Bancshares Inc. grew its position in Halliburton by 5.0% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after buying an additional 128 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. grew its position in Halliburton by 87.6% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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