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

Halliburton (NYSE:HAL) had its price target lifted by Citigroup from $45.00 to $50.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the oilfield services company’s stock.

Several other brokerages have also recently commented on HAL. Benchmark reiterated a buy rating and set a $45.00 target price on shares of Halliburton in a research report on Wednesday. Barclays lowered their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on shares of Halliburton from $46.00 to $48.00 in a research report on Tuesday, April 23rd. UBS Group upped their price objective on shares of Halliburton from $46.00 to $51.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley upped their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an overweight rating in a research report on Tuesday, April 23rd. One research 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 company. According to MarketBeat.com, Halliburton has a consensus rating of Buy and a consensus target price of $48.82.

Halliburton Stock Performance

Shares of Halliburton stock opened at $38.54 on Wednesday. The firm has a fifty day moving average of $37.88 and a two-hundred day moving average of $37.36. The stock has a market capitalization of $34.12 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.00 and a beta of 2.00. Halliburton has a 52 week low of $27.84 and a 52 week high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities research analysts predict that Halliburton will post 3.4 EPS for the current year.

Insider Transactions 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 shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently bought and sold shares of HAL. Rise Advisors LLC acquired a new stake in Halliburton in the 1st quarter valued at about $26,000. IAG Wealth Partners LLC bought a new stake in shares of Halliburton during the first quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton during the fourth quarter worth approximately $33,000. Ancora Advisors LLC boosted its holdings in shares of Halliburton by 443.8% during the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after acquiring an additional 719 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Halliburton during the fourth quarter worth approximately $36,000. 85.23% of the stock is currently 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.