The Goldman Sachs Group Boosts Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its price objective upped by The Goldman Sachs Group from $46.00 to $48.00 in a research report sent to investors on Tuesday morning.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $45.00 price objective on shares of Halliburton in a research note on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a research note on Tuesday. StockNews.com upgraded shares of Halliburton from a hold rating to a buy rating in a research note on Monday, April 22nd. UBS Group raised their target price on shares of Halliburton from $44.00 to $48.00 in a research note on Monday, January 22nd. Finally, Barclays decreased their target price on shares of Halliburton from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $48.82.

Halliburton Price Performance

Shares of NYSE:HAL opened at $38.54 on Tuesday. The firm’s 50 day moving average price is $37.88 and its 200-day moving average price is $37.39. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $34.16 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Halliburton will post 3.41 EPS for the current year.

Insider Buying and Selling at Halliburton

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in Halliburton in the first quarter worth $26,000. IAG Wealth Partners LLC bought a new stake in Halliburton in the first quarter worth $30,000. Johnson Financial Group Inc. bought a new stake in Halliburton in the fourth quarter worth $33,000. Ancora Advisors LLC lifted 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. Finally, Princeton Global Asset Management LLC bought a new stake in Halliburton in the fourth quarter worth $36,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.