Sanford C. Bernstein Reiterates “Outperform” Rating for Halliburton (HAL)
Halliburton (NYSE:HAL)‘s stock had its “outperform” rating reiterated by analysts at Sanford C. Bernstein in a research report issued to clients and investors on Tuesday, AmericanBankingNews.com reports. They currently have a $69.00 price target on the stock, up from their previous price target of $55.00. Sanford C. Bernstein’s price target would suggest a potential upside of 36.20% from the company’s current price.
The analysts wrote, “Coming into 2013, our primary positioning call was to be overweight in the Integrated Services. This sub-group has delivered and we continue to see highly attractive risk/reward. Robust earnings growth should continue as domestic E&Ps raise budgets, frac intensity increases and internal efficiency improvements drive margins higher, even in the absence of broad pricing power. With earnings projected to grow faster than the S&P 500 over the next two years, we believe multiples continue to be too low. Thus the Integrated Services remain our preferred subgroup. Our preference order remains BHI, HAL and SLB (all Outperform) followed by WFT (Market-Perform).”
In other Halliburton news, CEO David J. Lesar sold 72,388 shares of the stock on the open market in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $52.00, for a total value of $3,764,176.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Halliburton (NYSE:HAL) traded up 1.42% on Tuesday, hitting $51.38. The stock had a trading volume of 4,063,073 shares. Halliburton has a one year low of $29.83 and a one year high of $52.93. The stock has a 50-day moving average of $49.63 and a 200-day moving average of $45.08. The company has a market cap of $46.940 billion and a price-to-earnings ratio of 24.80.
Halliburton (NYSE:HAL) last released its earnings data on Monday, October 21st. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.84 by $0.01. The company had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Halliburton will post $3.20 EPS for the current fiscal year.
HAL has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Halliburton in a research note to investors on Tuesday. Separately, analysts at Raymond James reiterated a “buy” rating on shares of Halliburton in a research note to investors on Tuesday. They now have a $63.00 price target on the stock. Finally, analysts at Iberia Capital initiated coverage on shares of Halliburton in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and an average target price of $57.45.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.
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