Halliburton Price Target Lowered to $58.00 at FBR Capital Markets (HAL)
FBR Capital Markets dropped their target price on shares of Halliburton (NYSE:HAL) from $60.00 to $58.00 in a research note issued on Wednesday, StockRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ target price would indicate a potential upside of 16.51% from the company’s current price.
A number of other firms have also recently commented on HAL. Analysts at Goldman Sachs Group Inc. reiterated a “positive” rating on shares of Halliburton in a research note to investors on Thursday, January 16th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Halliburton in a research note to investors on Thursday, January 16th. They now have a $53.00 price target on the stock. Finally, analysts at Socgen reiterated a “buy” rating on shares of Halliburton in a research note to investors on Thursday, January 16th. They now have a $58.00 price target on the stock, down previously from $62.00. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $60.97.
In other Halliburton news, EVP Lawrence Pope sold 3,000 shares of the stock on the open market in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $50.44, for a total value of $151,320.00. Following the completion of the sale, the executive vice president now directly owns 167,712 shares in the company, valued at approximately $8,459,393. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Halliburton (NYSE:HAL) opened at 49.78 on Wednesday. Halliburton has a 52-week low of $36.77 and a 52-week high of $56.52. The stock’s 50-day moving average is $50.22 and its 200-day moving average is $49.53. The company has a market cap of $42.225 billion and a P/E ratio of 23.30. Halliburton also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 34,529 call options on the stock. This represents an increase of approximately 117% compared to the average volume of 15,883 call options.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.04. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Halliburton will post $3.19 EPS for the current fiscal year.
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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