BMO Capital Markets Issues Positive Forecast for Halliburton (NYSE:HAL) Stock Price

Halliburton (NYSE:HAL) had its price target increased by BMO Capital Markets from $28.00 to $31.00 in a research report released on Tuesday morning,MarketScreener reports.

HAL has been the topic of a number of other reports. Piper Sandler lifted their price target on shares of Halliburton from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. HSBC set a $30.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Melius began coverage on Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price objective on the stock. Zephirin Group boosted their price objective on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Rothschild & Co Redburn started coverage on Halliburton in a research note on Monday, November 3rd. They issued a “buy” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average target price of $31.45.

Halliburton Trading Up 1.2%

Halliburton stock traded up $0.32 during midday trading on Tuesday, reaching $27.34. The stock had a trading volume of 6,845,680 shares, compared to its average volume of 13,460,894. The stock’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $22.41. Halliburton has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. The stock has a market capitalization of $23.01 billion, a PE ratio of 18.10 and a beta of 1.03.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. Analysts expect that Halliburton will post 2.64 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark Richard sold 160,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the completion of the sale, the insider directly owned 452,374 shares of the company’s stock, valued at $12,562,425.98. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in Halliburton in the third quarter worth $25,000. Stone House Investment Management LLC bought a new position in shares of Halliburton in the 1st quarter worth about $30,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Halliburton in the 2nd quarter valued at about $25,000. Root Financial Partners LLC bought a new stake in shares of Halliburton during the 3rd quarter valued at about $32,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Halliburton during the first quarter worth about $37,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.