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

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

Other analysts also recently issued reports about the company. Raymond James reduced their price target 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. The Goldman Sachs Group boosted their price target on Halliburton from $46.00 to $48.00 in a research note on Tuesday. Morgan Stanley upped their target price on Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a research report on Tuesday. StockNews.com upgraded Halliburton from a hold rating to a buy rating in a research report on Monday. Finally, Susquehanna reiterated a positive rating and set a $49.00 target price on shares of Halliburton in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Stock Performance

Shares of NYSE HAL opened at $38.72 on Tuesday. The stock has a 50 day moving average of $37.81 and a 200-day moving average of $37.41. The company has a market capitalization 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 has a 12 month low of $27.84 and a 12 month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79.

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 business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. As a group, equities research analysts predict that Halliburton will post 3.41 EPS for the current year.

Insider Transactions at Halliburton

In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated 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 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 SEC, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was 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 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 owned by insiders.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. acquired a new position in Halliburton in the 1st quarter worth about $414,000. Strategy Asset Managers LLC increased its holdings in Halliburton by 25.3% in the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock worth $797,000 after purchasing an additional 4,086 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Halliburton in the 1st quarter worth about $206,000. Aaron Wealth Advisors LLC acquired a new position in Halliburton in the 1st quarter worth about $235,000. Finally, Valeo Financial Advisors LLC increased its holdings in Halliburton by 4.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,935 shares of the oilfield services company’s stock worth $385,000 after purchasing an additional 411 shares in the last quarter. 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.