Halliburton (NYSE:HAL) Price Target Increased to $50.00 by Analysts at Morgan Stanley

Halliburton (NYSE:HAL) had its target price boosted by investment analysts at Morgan Stanley from $45.00 to $50.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s price target would indicate a potential upside of 29.57% from the company’s previous close.

A number of other analysts have also issued reports on the stock. TD Cowen boosted their price target on shares of Halliburton from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. UBS Group upped their target price on Halliburton from $44.00 to $48.00 in a research report on Monday, January 22nd. Raymond James decreased their price target on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Barclays reduced their price objective on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Buy” and an average target price of $49.00.

Halliburton Trading Down 0.3 %

HAL stock traded down $0.13 during midday trading on Tuesday, hitting $38.59. The stock had a trading volume of 903,336 shares, compared to its average volume of 7,036,228. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $37.39. The firm has a market cap of $34.21 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.78 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Halliburton will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated 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 owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Halliburton

Several hedge funds have recently added to or reduced their stakes in HAL. Rise Advisors LLC acquired a new stake in Halliburton during the 1st quarter worth approximately $26,000. Johnson Financial Group Inc. bought a new position in shares of Halliburton in the fourth quarter valued at approximately $33,000. Ancora Advisors LLC increased its position in Halliburton by 443.8% in the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after buying an additional 719 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $36,000. Finally, First United Bank & Trust bought a new stake in Halliburton during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.