The Goldman Sachs Group Forecasts Strong Price Appreciation for Halliburton (NYSE:HAL) Stock

Halliburton (NYSE:HAL) had its target price increased by equities researchers at The Goldman Sachs Group from $40.00 to $44.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 28.99% from the company’s current price.

A number of other brokerages have also weighed in on HAL. Argus boosted their price objective on shares of Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Stifel Nicolaus set a $36.00 price target on Halliburton in a research note on Thursday, January 22nd. Zephirin Group lowered Halliburton from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $28.00 in a report on Friday, January 23rd. Citigroup lifted their target price on Halliburton from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Barclays upped their target price on Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Halliburton Stock Down 0.1%

Shares of HAL traded down $0.05 during mid-day trading on Wednesday, hitting $34.11. 18,528,634 shares of the company traded hands, compared to its average volume of 11,594,022. The company has a market capitalization of $28.57 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $33.30 and a 200 day moving average of $27.95. Halliburton has a 1-year low of $18.72 and a 1-year high of $37.03.

Halliburton (NYSE:HAL) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business earned $0.73 EPS. Halliburton’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that Halliburton will post 2.64 EPS for the current year.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 54,348 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the completion of the transaction, the executive vice president directly owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. The trade was a 13.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lawrence J. Pope sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the sale, the executive vice president owned 419,800 shares in the company, valued at approximately $13,538,550. This represents a 19.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 328,148 shares of company stock valued at $11,199,000 in the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Trading of Halliburton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Halliburton during the 3rd quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new position in Halliburton in the 4th quarter worth about $25,000. Kelleher Financial Advisors acquired a new stake in Halliburton in the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton in the second quarter valued at approximately $25,000. Finally, Zions Bancorporation National Association UT raised its stake in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Company Profile

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.