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

Halliburton (NYSE:HAL) had its target price lifted by investment analysts at TD Cowen from $47.00 to $48.00 in a research note issued to investors on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the oilfield services company’s stock. TD Cowen’s price target suggests a potential upside of 24.42% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Halliburton in a research note on Wednesday, January 24th. Morgan Stanley lifted their price objective on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. Susquehanna reiterated a “positive” rating and issued a $49.00 price objective on shares of Halliburton in a research note on Monday, April 8th. Finally, Raymond James decreased their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $48.81.

Halliburton Stock Performance

NYSE HAL opened at $38.58 on Wednesday. The company has a market cap of $34.20 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. The stock has a 50-day moving average of $37.66 and a two-hundred day moving average of $37.39. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HAL. Impact Partnership Wealth LLC acquired a new position in Halliburton during the third quarter worth $45,000. Caprock Group LLC grew its holdings in Halliburton by 26.4% during the third quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock worth $1,044,000 after acquiring an additional 5,384 shares during the period. Miller Howard Investments Inc. NY grew its holdings in Halliburton by 0.4% during the third quarter. Miller Howard Investments Inc. NY now owns 62,157 shares of the oilfield services company’s stock worth $2,517,000 after acquiring an additional 276 shares during the period. Proficio Capital Partners LLC purchased a new stake in Halliburton during the third quarter worth $210,000. Finally, CX Institutional purchased a new stake in Halliburton during the third quarter worth $344,000. Institutional investors and hedge funds 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.