Halliburton (NYSE:HAL) Price Target Raised to $50.00 at Morgan Stanley

Halliburton (NYSE:HAL) had its price objective hoisted by Morgan Stanley from $45.00 to $50.00 in a report issued on Tuesday. They currently have an overweight rating on the oilfield services company’s stock.

HAL has been the subject of a number of other reports. StockNews.com upgraded shares of Halliburton from a hold rating to a buy rating in a report on Monday, April 22nd. Susquehanna reiterated a positive rating and issued a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. TD Cowen upped their price objective on shares of Halliburton from $49.00 to $51.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Raymond James decreased their price objective on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $45.00 price objective on shares of Halliburton in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Trading Down 0.5 %

Halliburton stock opened at $38.54 on Tuesday. The company’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $37.39. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock has a market cap of $34.16 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the previous year, the company posted $0.72 EPS. Halliburton’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Halliburton will post 3.41 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Trading of Halliburton

Several hedge funds have recently modified their holdings of the company. MCF Advisors LLC grew its stake in shares of Halliburton by 5.3% during the third quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after purchasing an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in Halliburton by 0.7% in the third quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after acquiring an additional 250 shares during the last quarter. Nvwm LLC boosted its stake in Halliburton by 1.2% in the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after acquiring an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after acquiring an additional 263 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Halliburton by 2.3% in the third quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after acquiring an additional 268 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

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.