Halliburton Co. (HAL) Given New $58.00 Price Target at FBR & Co
Halliburton Co. (NYSE:HAL) had its target price boosted by FBR & Co from $53.00 to $58.00 in a report issued on Friday morning. They currently have an outperform rating on the oilfield services company’s stock.
A number of other equities analysts have also commented on HAL. Simmons increased their price target on Halliburton from $48.00 to $60.00 and gave the company an overweight rating in a research note on Tuesday, June 21st. KeyCorp restated an overweight rating and set a $54.00 price objective (up from $45.00) on shares of Halliburton in a research report on Tuesday, June 21st. Vetr downgraded Halliburton from a strong-buy rating to a buy rating and set a $50.00 price objective on the stock. in a research report on Wednesday, June 22nd. Citigroup Inc. restated a buy rating on shares of Halliburton in a research report on Saturday, June 25th. Finally, Iberia Capital restated an outperform rating and set a $50.00 price objective on shares of Halliburton in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $47.30.
Halliburton (NYSE:HAL) traded down 1.09% during mid-day trading on Friday, hitting $46.46. 2,626,918 shares of the stock traded hands. The stock’s 50 day moving average is $43.73 and its 200-day moving average is $42.52. Halliburton has a 12 month low of $27.64 and a 12 month high of $47.96. The company’s market cap is $40.01 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was down 35.2% on a year-over-year basis. On average, equities research analysts anticipate that Halliburton will post ($0.18) EPS for the current year.
In related news, insider James S. Brown sold 28,439 shares of Halliburton stock in a transaction on Monday, October 10th. The shares were sold at an average price of $47.00, for a total transaction of $1,336,633.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Halliburton by 15.1% in the second quarter. Brown Advisory Inc. now owns 41,655 shares of the oilfield services company’s stock valued at $1,886,000 after buying an additional 5,472 shares during the last quarter. Schroder Investment Management Group increased its stake in Halliburton by 497.8% in the second quarter. Schroder Investment Management Group now owns 2,473,431 shares of the oilfield services company’s stock valued at $112,022,000 after buying an additional 2,059,670 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Halliburton during the second quarter valued at $904,000. Atalanta Sosnoff Capital LLC bought a new stake in Halliburton during the second quarter valued at $24,549,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Halliburton by 57.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,600,743 shares of the oilfield services company’s stock valued at $72,498,000 after buying an additional 585,342 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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