Halliburton Company (HAL) Given a $50.00 Price Target by Cowen and Company Analysts
Halliburton Company (NYSE:HAL) has been assigned a $50.00 price target by analysts at Cowen and Company in a report issued on Friday. The firm currently has a “hold” rating on the oilfield services company’s stock. Cowen and Company’s price target would suggest a potential upside of 11.73% from the company’s previous close.
Several other research analysts have also issued reports on HAL. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, June 24th. TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Credit Suisse Group AG set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, July 1st. Citigroup Inc. lifted their price objective on shares of Halliburton from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $57.99.
Shares of Halliburton (NYSE:HAL) traded down 0.75% during midday trading on Friday, reaching $44.75. The company’s stock had a trading volume of 11,162,138 shares. The stock’s 50 day moving average is $41.74 and its 200 day moving average is $44.33. The stock’s market capitalization is $39.00 billion. Halliburton has a 12 month low of $38.18 and a 12 month high of $58.78.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, analysts forecast that Halliburton will post $1.11 EPS for the current fiscal year.
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In related news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HAL. Engineers Gate Manager LP bought a new stake in Halliburton in the first quarter valued at about $2,500,000. Beach Investment Management LLC. increased its stake in Halliburton by 184.7% in the first quarter. Beach Investment Management LLC. now owns 24,110 shares of the oilfield services company’s stock valued at $1,186,000 after acquiring an additional 15,640 shares during the period. Commerce Bank grew its stake in Halliburton by 11.4% during the first quarter. Commerce Bank now owns 24,811 shares of the oilfield services company’s stock worth $1,221,000 after buying an additional 2,542 shares during the last quarter. CI Investments Inc. grew its stake in Halliburton by 15.2% during the first quarter. CI Investments Inc. now owns 1,284,050 shares of the oilfield services company’s stock worth $63,188,000 after buying an additional 169,200 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA grew its stake in Halliburton by 223.0% during the first quarter. Beach Investment Counsel Inc. PA now owns 258,283 shares of the oilfield services company’s stock worth $12,710,000 after buying an additional 178,313 shares during the last quarter. 79.51% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company Profile
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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