Halliburton (NYSE:HAL) Coverage Initiated at Dbs Bank

Investment analysts at Dbs Bank began coverage on shares of Halliburton (NYSE:HAL) in a report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $45.00 price target on the oilfield services company’s stock. Dbs Bank’s price objective points to a potential upside of 52.39% from the stock’s current price.

Several other research analysts have also commented on HAL. Morgan Stanley cut their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday. Johnson Rice raised Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Citigroup cut their price target on Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Evercore ISI lowered their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Halliburton Stock Performance

Shares of Halliburton stock opened at $29.53 on Wednesday. The business has a 50-day moving average of $31.57 and a 200 day moving average of $34.88. Halliburton has a 12 month low of $27.52 and a 12 month high of $43.85. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the company earned $0.77 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Halliburton will post 3.14 earnings per share for the current year.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Halliburton

Several institutional investors and hedge funds have recently made changes to their positions in HAL. Price T Rowe Associates Inc. MD lifted its position in shares of Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Halliburton by 17,317.6% in the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after acquiring an additional 13,552,927 shares in the last quarter. LSV Asset Management lifted its position in shares of Halliburton by 24,954.1% in the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after acquiring an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after acquiring an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Halliburton by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after acquiring an additional 1,681,620 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.