Halliburton (NYSE:HAL) Price Target Raised to $34.00 at Piper Sandler

Halliburton (NYSE:HAL) had its price objective raised by equities researchers at Piper Sandler from $30.00 to $34.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the oilfield services company’s stock. Piper Sandler’s price target indicates a potential upside of 1.67% from the company’s previous close.

Other analysts have also issued research reports about the company. Susquehanna lifted their target price on Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. Argus increased their price objective on shares of Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Stifel Nicolaus set a $36.00 target price on shares of Halliburton in a research report on Thursday, January 22nd. TD Cowen raised their price target on Halliburton from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, HSBC set a $30.00 price target on Halliburton and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.76.

Halliburton Price Performance

Shares of HAL traded up $0.05 during midday trading on Wednesday, hitting $33.44. 724,529 shares of the company traded hands, compared to its average volume of 16,416,660. The stock has a 50-day moving average of $29.57 and a 200-day moving average of $25.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51. Halliburton has a one year low of $18.72 and a one year high of $35.55. The firm has a market cap of $28.14 billion, a P/E ratio of 22.07, a PEG ratio of 1.99 and a beta of 0.78.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm posted $0.73 EPS. Halliburton’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton will post 2.64 EPS for the current fiscal year.

Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 2,600 shares of Halliburton stock in a transaction on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the sale, the director directly owned 14,043 shares in the company, valued at approximately $479,849.31. The trade was a 15.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lawrence J. Pope sold 100,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the transaction, the executive vice president directly owned 419,800 shares of the company’s stock, valued at $13,538,550. This trade represents a 19.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 497,002 shares of company stock valued at $15,889,138 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Halliburton

A number of large investors have recently made changes to their positions in the business. Nvest Wealth Strategies Inc. acquired a new stake in shares of Halliburton in the 4th quarter worth $25,000. Kelleher Financial Advisors acquired a new stake in Halliburton during the third quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Halliburton in the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new position in Halliburton in the 4th quarter valued at about $35,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Halliburton in the 2nd quarter valued at about $25,000. 85.23% of the stock is currently owned by institutional investors.

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.