Halliburton (NYSE:HAL) Price Target Increased to $50.00 by Analysts at Morgan Stanley

Halliburton (NYSE:HAL) had its target price increased by analysts at Morgan Stanley from $45.00 to $50.00 in a report released on Tuesday. The brokerage currently has an “overweight” rating on the oilfield services company’s stock. Morgan Stanley’s target price would suggest a potential upside of 29.57% from the company’s current price.

A number of other research analysts have also commented on 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. Barclays decreased their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. UBS Group increased their price target on Halliburton from $44.00 to $48.00 in a report on Monday, January 22nd. StockNews.com raised shares of Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton presently has a consensus rating of “Buy” and a consensus price target of $49.00.

Halliburton Stock Down 0.3 %

Halliburton stock traded down $0.13 during midday trading on Tuesday, reaching $38.59. The stock had a trading volume of 903,336 shares, compared to its average volume of 7,036,228. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The company has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $37.39. The company has a market capitalization of $34.21 billion, a P/E ratio of 13.08, a PEG ratio of 1.00 and a beta of 2.00. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter last year, the business posted $0.72 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Halliburton will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s 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 completion of the transaction, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Margaret Katherine Banks sold 5,000 shares of the 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 transaction, the director now owns 9,625 shares in the company, valued at $339,762.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated 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 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. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC grew its holdings in Halliburton by 5.3% during the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after buying an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in Halliburton by 0.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock worth $1,499,000 after acquiring an additional 250 shares during the last quarter. Nvwm LLC raised 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 in the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of Halliburton by 3.6% during the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after purchasing an additional 263 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in shares of 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 worth $485,000 after acquiring an additional 268 shares during the period. Hedge funds and other 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.