Rothschild & Co Redburn Forecasts Strong Price Appreciation for Halliburton (NYSE:HAL) Stock

Halliburton (NYSE:HAL) had its target price lifted by analysts at Rothschild & Co Redburn from $35.00 to $40.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the oilfield services company’s stock. Rothschild & Co Redburn’s price objective would suggest a potential upside of 11.97% from the stock’s current price.

A number of other equities research analysts also recently commented on HAL. The Goldman Sachs Group raised their price objective on shares of Halliburton from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Evercore increased their price target on shares of Halliburton from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Thursday, January 22nd. UBS Group upped their target price on shares of Halliburton from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Susquehanna boosted their price target on Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $39.00 price objective on shares of Halliburton in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Halliburton Trading Up 1.0%

Halliburton stock traded up $0.36 during midday trading on Wednesday, hitting $35.73. 1,157,105 shares of the stock were exchanged, compared to its average volume of 14,660,404. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.07 and a beta of 0.77. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. Halliburton has a fifty-two week low of $18.72 and a fifty-two week high of $35.60. The stock’s 50-day simple moving average is $31.69 and its 200 day simple moving average is $26.88.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. Halliburton’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. On average, equities analysts anticipate that Halliburton will post 2.64 EPS for the current year.

Insider Activity at Halliburton

In other Halliburton news, EVP Lawrence J. Pope sold 100,000 shares of Halliburton stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the transaction, the executive vice president owned 419,800 shares of the company’s stock, valued at $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the sale, the chief executive officer owned 1,101,243 shares in the company, valued at approximately $38,499,455.28. This represents a 13.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 337,002 shares of company stock worth $11,445,938. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in shares of Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Halliburton by 1.6% during the second quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock valued at $2,147,310,000 after purchasing an additional 1,617,696 shares during the period. State Street Corp boosted its stake in Halliburton by 1.7% in the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after buying an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Halliburton by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after buying an additional 443,064 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after buying an additional 29,735,387 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.