Halliburton (NYSE:HAL) Given New $48.00 Price Target at TD Cowen

Halliburton (NYSE:HAL) had its target price lifted by TD Cowen from $47.00 to $48.00 in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the oilfield services company’s stock.

HAL has been the topic of a number of other reports. Barclays dropped their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating on the stock 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 note on Monday. The Goldman Sachs Group lifted their price objective on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday. UBS Group boosted their price target on shares of Halliburton from $46.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Raymond James dropped their price target on shares of Halliburton from $49.00 to $47.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $48.82.

Halliburton Price Performance

Shares of HAL opened at $38.72 on Wednesday. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The stock has a market cap of $34.32 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a fifty day moving average price of $37.75 and a 200 day moving average price of $37.40.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Halliburton will post 3.42 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. 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 shares were 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 $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’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 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Impact Partnership Wealth LLC purchased a new position in shares of Halliburton in the third quarter worth approximately $45,000. Caprock Group LLC lifted its stake in shares of Halliburton by 26.4% in the third quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock worth $1,044,000 after buying an additional 5,384 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of Halliburton by 0.4% in 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 buying an additional 276 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Halliburton in the third quarter worth $210,000. Finally, CX Institutional acquired a new stake in shares of Halliburton in the third quarter worth $344,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.