Halliburton (NYSE:HAL) Given New $50.00 Price Target at Citigroup

Halliburton (NYSE:HAL) had its price objective lifted by Citigroup from $45.00 to $50.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the oilfield services company’s stock.

Several other analysts have also weighed in on HAL. UBS Group boosted their price objective on Halliburton from $46.00 to $51.00 and gave the company a buy rating in a report on Tuesday. Benchmark reissued a buy rating and issued a $45.00 price objective on shares of Halliburton in a report on Wednesday. Raymond James lowered their price objective on Halliburton from $49.00 to $47.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group upped their target price on Halliburton from $46.00 to $48.00 in a report on Tuesday. Finally, Barclays lowered their target price on Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of Buy and an average price target of $48.82.

Halliburton Stock Up 0.3 %

Shares of NYSE HAL opened at $38.72 on Wednesday. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The firm has a market cap of $34.32 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12. The stock’s 50-day simple moving average is $37.75 and its 200-day simple moving average is $37.40.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. Halliburton’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, equities analysts anticipate that Halliburton will post 3.42 earnings per share for the current fiscal year.

Insider Transactions at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in shares of Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock valued at $27,781,000 after acquiring an additional 561,020 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Halliburton by 69.5% during the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock valued at $7,472,000 after acquiring an additional 84,771 shares during the last quarter. KLCM Advisors Inc. lifted its position in shares of Halliburton by 6.9% during the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock valued at $17,722,000 after acquiring an additional 31,534 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Halliburton by 65.4% during the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock valued at $2,094,000 after purchasing an additional 22,906 shares during the period. Finally, CX Institutional acquired a new stake in Halliburton during the 3rd quarter valued at $344,000. 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.