TD Cowen Increases Halliburton (NYSE:HAL) Price Target to $48.00

Halliburton (NYSE:HAL) had its target price upped by TD Cowen from $47.00 to $48.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the oilfield services company’s stock. TD Cowen’s target price would suggest a potential upside of 23.97% from the company’s previous close.

A number of other brokerages have also weighed in on HAL. Susquehanna restated a “positive” rating and issued a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Raymond James decreased their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. The Goldman Sachs Group boosted their target price on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday. Finally, StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. 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 stock. According to data from MarketBeat, Halliburton has a consensus rating of “Buy” and a consensus target price of $48.82.

Halliburton Price Performance

Shares of NYSE HAL opened at $38.72 on Wednesday. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The firm has a market cap of $34.32 billion, a P/E ratio of 13.40, a PEG ratio of 0.99 and a beta of 2.00. The company has a 50 day moving average of $37.81 and a 200 day moving average of $37.41. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79.

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, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that Halliburton will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in shares of Halliburton during the 1st quarter valued at about $26,000. IAG Wealth Partners LLC bought a new position in shares of Halliburton during the 1st quarter valued at about $30,000. Ancora Advisors LLC boosted its holdings in shares of Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Halliburton during the 4th quarter valued at about $33,000. Finally, Ogorek Anthony Joseph NY ADV boosted its holdings in shares of Halliburton by 1,134.6% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 1,000 shares of the oilfield services company’s stock valued at $40,000 after purchasing an additional 919 shares during the last quarter. Institutional investors 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.