Halliburton Company (HAL) Price Target Cut to $61.00 by Analysts at FBR & Co
Halliburton Company (NYSE:HAL) had its target price decreased by equities researchers at FBR & Co from $70.00 to $61.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the oilfield services company’s stock. FBR & Co’s price objective suggests a potential upside of 41.56% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. HSBC Holdings plc initiated coverage on shares of Halliburton in a research report on Wednesday, April 19th. They set a “buy” rating and a $65.00 price target on the stock. Sanford C. Bernstein reiterated a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. Barclays PLC reiterated an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target (down previously from $67.00) on shares of Halliburton in a research report on Wednesday, June 21st. Finally, Jefferies Group LLC set a $69.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Halliburton has a consensus rating of “Buy” and an average target price of $58.85.
Halliburton (HAL) opened at 43.09 on Friday. The company’s market cap is $37.40 billion. Halliburton has a 52-week low of $40.12 and a 52-week high of $58.78. The stock’s 50 day moving average is $43.36 and its 200-day moving average is $48.81.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Halliburton’s quarterly revenue was up 29.3% on a year-over-year basis. Equities research analysts predict that Halliburton will post $1.09 EPS for the current fiscal year.
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In other Halliburton news, Director William E. Albrecht bought 8,000 shares of Halliburton stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $46.33 per share, with a total value of $370,640.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $370,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Stanley Capital Management boosted its stake in shares of Halliburton by 22.4% in the third quarter. Stanley Capital Management now owns 112,054 shares of the oilfield services company’s stock worth $3,961,000 after buying an additional 20,533 shares during the period. Kovitz Investment Group boosted its stake in shares of Halliburton by 0.5% in the third quarter. Kovitz Investment Group now owns 1,124,391 shares of the oilfield services company’s stock worth $39,747,000 after buying an additional 5,685 shares during the period. Ken Stern & Associates boosted its stake in shares of Halliburton by 19.5% in the third quarter. Ken Stern & Associates now owns 6,341 shares of the oilfield services company’s stock worth $224,000 after buying an additional 1,035 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft boosted its stake in shares of Halliburton by 3,130.1% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 226,110 shares of the oilfield services company’s stock worth $7,871,000 after buying an additional 219,110 shares during the period. Finally, Palo Capital purchased a new stake in shares of Halliburton during the third quarter worth about $337,000. 79.74% of the stock is owned by hedge funds and other institutional investors.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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