Halliburton (NYSE:HAL) PT Lowered to $45.00

Halliburton (NYSE:HAL) had its target price cut by stock analysts at Citigroup from $50.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the oilfield services company’s stock. Citigroup’s target price would indicate a potential upside of 33.21% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price target on Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group raised their target price on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. TD Cowen increased their price objective on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their target price on Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Finally, StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $48.75.

Halliburton Stock Performance

NYSE:HAL traded up $0.17 on Friday, hitting $33.78. The stock had a trading volume of 18,940,840 shares, compared to its average volume of 7,308,878. The business’s 50-day simple moving average is $36.10 and its two-hundred day simple moving average is $36.35. The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.87 and a beta of 1.93. Halliburton has a 52-week low of $32.27 and a 52-week high of $43.85. The company has a quick ratio of 1.52, a current ratio of 2.12 and a debt-to-equity ratio of 0.79.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $5.80 billion for 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 company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. As a group, research analysts predict that Halliburton will post 3.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $369,200.00. Following the completion of the transaction, the executive vice president now owns 283,908 shares in the company, valued at approximately $10,481,883.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total transaction of $369,200.00. Following the transaction, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the transaction, the senior vice president now directly owns 40,185 shares in the company, valued at $1,486,845. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,287 shares of company stock worth $1,930,704. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halliburton

Hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Halliburton during the 1st quarter valued at approximately $26,000. IAG Wealth Partners LLC purchased a new position in shares of Halliburton during the first quarter worth $30,000. Johnson Financial Group Inc. purchased a new stake in Halliburton in the fourth quarter valued at $33,000. Ancora Advisors LLC raised its stake in shares of Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after buying an additional 719 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Halliburton in the 4th quarter valued at about $36,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

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.