UBS Group Raises Halliburton (NYSE:HAL) Price Target to $51.00

Halliburton (NYSE:HAL) had its price objective increased by UBS Group from $46.00 to $51.00 in a research report released on Tuesday morning. They currently have a buy rating on the oilfield services company’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen lifted their price objective on shares of Halliburton from $49.00 to $51.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. StockNews.com upgraded shares of Halliburton from a hold rating to a buy rating in a research report on Monday. Royal Bank of Canada reiterated an outperform rating and issued a $45.00 price target on shares of Halliburton in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their price target on shares of Halliburton from $46.00 to $48.00 in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a research report on Tuesday. One investment 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.com, Halliburton has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Price Performance

Shares of NYSE HAL opened at $38.72 on Tuesday. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85. The firm’s 50-day simple moving average is $37.81 and its 200 day simple moving average is $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. The stock has a market cap of $34.32 billion, a P/E ratio of 13.40, a P/E/G 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, beating 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 business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities 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 Halliburton stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several institutional investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Halliburton during the 1st quarter valued at about $414,000. Strategy Asset Managers LLC lifted its holdings in shares of Halliburton by 25.3% during the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock valued at $797,000 after buying an additional 4,086 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Halliburton during the 1st quarter valued at about $206,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter valued at about $235,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Halliburton by 4.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 9,935 shares of the oilfield services company’s stock valued at $385,000 after buying an additional 411 shares during the last quarter. 85.23% of the stock is currently 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.