Halliburton (NYSE:HAL) PT Lowered to $49.00

Halliburton (NYSE:HAL) had its price objective lowered by analysts at Wells Fargo & Company from $50.00 to $49.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 30.75% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Susquehanna reiterated a “positive” rating and issued a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Citigroup raised their price target on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Halliburton in a research note on Wednesday, January 24th. Finally, UBS Group lifted their target price on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $48.65.

Halliburton Trading Down 3.6 %

NYSE HAL opened at $37.48 on Monday. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The company has a quick ratio of 1.52, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. The business’s fifty day moving average is $38.00 and its 200 day moving average is $37.28.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) 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 the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts expect that Halliburton will post 3.4 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $13,308,100.00. Following the transaction, the chief executive officer now directly 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 can be accessed through this link. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the business’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 transaction of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

Several hedge funds have recently modified their holdings of HAL. Nvwm LLC boosted its position in Halliburton by 1.2% in the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock worth $922,000 after purchasing an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of Halliburton by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock worth $308,000 after buying an additional 263 shares during the last quarter. Lake Street Advisors Group LLC grew its position in Halliburton by 2.3% during the third quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after buying an additional 268 shares during the period. Avantax Advisory Services Inc. grew its position in Halliburton by 2.6% during the third quarter. Avantax Advisory Services Inc. now owns 10,875 shares of the oilfield services company’s stock valued at $440,000 after buying an additional 280 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Halliburton by 4.0% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,439 shares of the oilfield services company’s stock worth $301,000 after buying an additional 289 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

About Halliburton

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.