Brokerages Set Halliburton Company (NYSE:HAL) Target Price at $42.45

Halliburton Company (NYSE:HAL – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $42.8636.

A number of research analysts have recently issued reports on HAL shares. Morgan Stanley lifted their price target on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price target (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Rothschild & Co Redburn lifted their price target on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd.

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Insiders Place Their Bets

In other news, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This trade represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president owned 146,186 shares in the company, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 420,837 shares of company stock worth $16,979,135. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after buying an additional 6,507 shares during the last quarter. Woodline Partners LP grew its stake in Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after buying an additional 20,583 shares during the last quarter. Focus Partners Wealth grew its stake in Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after buying an additional 10,408 shares during the last quarter. Intech Investment Management LLC grew its stake in Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after buying an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Halliburton during the 1st quarter worth $895,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton declared a quarterly dividend of $0.17 per share, reinforcing its shareholder-return story and signaling confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: Capital One raised its price target on Halliburton to $50 from $41 and reiterated an overweight rating, suggesting upside from current levels. Capital One adjusts price target on Halliburton
• Positive Sentiment: Halliburton unveiled its Xaminer Deep Testing service, a new reservoir evaluation tool that could support future product demand and strengthen its technology offering. HAL Unveils Next-Generation Solution for Challenging Reservoirs
• Positive Sentiment: Recent commentary noted HAL is up about 8.2% since its last earnings report, reflecting improved sentiment after results that beat expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Halliburton shareholders approved the board, auditor, and compensation plans at the annual meeting, which removes some governance uncertainty but is unlikely to move the stock by itself. Halliburton Shareholders Back Board, Auditor and Compensation Plans
• Neutral Sentiment: News that Halliburton CEO Jeff Miller will join Noble Corporation’s board is more of an industry-side development than a direct catalyst for HAL shares. Noble Corporation plc Announces New Director Appointment

Halliburton Trading Down 0.6%

HAL opened at $42.03 on Friday. The stock’s fifty day moving average is $38.88 and its two-hundred day moving average is $33.60. The company has a market capitalization of $35.11 billion, a P/E ratio of 23.09, a PEG ratio of 1.85 and a beta of 0.73. Halliburton has a 52 week low of $19.38 and a 52 week high of $43.59. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted $0.60 EPS. The business’s revenue was down .3% compared to the same quarter last year. Analysts forecast that Halliburton will post 2.32 earnings per share for the current year.

Halliburton Company Profile

(Get Free Report)

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

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