Halliburton Co. (HAL) Given New $58.00 Price Target at FBR & Co
Halliburton Co. (NYSE:HAL) had its price objective increased by stock analysts at FBR & Co from $53.00 to $58.00 in a research note issued to investors on Friday, StockTargetPrices.com reports. The firm currently has an “outperform” rating on the oilfield services company’s stock. FBR & Co’s price objective points to a potential upside of 23.35% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Societe Generale downgraded shares of Halliburton from a “buy” rating to a “hold” rating and boosted their target price for the stock from $46.00 to $50.00 in a report on Monday, July 18th. Vetr downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 target price for the company. in a report on Thursday, June 30th. Nomura reiterated a “buy” rating and issued a $53.00 target price on shares of Halliburton in a report on Thursday, July 21st. Simmons boosted their target price on shares of Halliburton from $48.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, June 21st. Finally, Atlantic Securities began coverage on shares of Halliburton in a report on Monday, August 8th. They issued an “underweight” rating and a $38.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Halliburton presently has a consensus rating of “Buy” and a consensus target price of $47.30.
Halliburton (NYSE:HAL) opened at 47.02 on Friday. The company has a 50 day moving average of $43.66 and a 200-day moving average of $42.44. The stock’s market cap is $40.49 billion. Halliburton has a 12-month low of $27.64 and a 12-month high of $47.96.
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Halliburton (NYSE:HAL) last released its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The company earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was down 35.2% compared to the same quarter last year. Equities analysts forecast that Halliburton will post ($0.18) earnings per share for the current year.
In other news, insider James S. Brown sold 28,439 shares of Halliburton stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. boosted its position in shares of Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock valued at $103,000 after buying an additional 772 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock valued at $104,000 after buying an additional 379 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 9 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in shares of Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock valued at $117,000 after buying an additional 648 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Halliburton during the second quarter valued at about $120,000. Institutional investors and hedge funds own 79.64% of the company’s stock.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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