Halliburton (NYSE:HAL) Given New $49.00 Price Target at Wells Fargo & Company

Halliburton (NYSE:HAL) had its target price trimmed by Wells Fargo & Company from $50.00 to $49.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the oilfield services company’s stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley lifted their price target on shares of Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a research note on Tuesday, April 23rd. Citigroup boosted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, April 24th. UBS Group increased their target price on Halliburton from $46.00 to $51.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. TD Cowen boosted their price target on Halliburton from $47.00 to $48.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded Halliburton from a hold rating to a buy rating in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $48.59.

Halliburton Price Performance

Shares of HAL stock opened at $36.33 on Monday. The company has a quick ratio of 1.52, 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 firm has a fifty day moving average of $38.02 and a 200-day moving average of $37.27. The firm has a market capitalization of $32.16 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts forecast that Halliburton will post 3.4 earnings per share for the current year.

Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares in the company, 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.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in shares of Halliburton during the 1st quarter worth about $26,000. IAG Wealth Partners LLC acquired a new stake in Halliburton during the first quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton during the fourth quarter worth approximately $33,000. Ancora Advisors LLC grew its position in shares of Halliburton by 443.8% in the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Halliburton during the fourth quarter worth approximately $36,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Company Profile

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.