Halliburton (NYSE:HAL) had its price objective raised by SunTrust Banks to $69.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has a “hold” rating on the oilfield services company’s stock. SunTrust Banks’ price objective suggests a potential upside of 21.41% from the stock’s current price.
Several other research firms have also issued reports on HAL. Piper Jaffray Companies set a $53.00 price objective on Halliburton and gave the company a “buy” rating in a research note on Monday, October 30th. FBR & Co dropped their price objective on Halliburton from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. TheStreet upgraded Halliburton from a “d+” rating to a “c-” rating in a research note on Friday, September 29th. Deutsche Bank initiated coverage on Halliburton in a research note on Tuesday, October 10th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Cowen set a $50.00 price objective on Halliburton and gave the company a “hold” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Halliburton presently has a consensus rating of “Buy” and an average target price of $58.99.
Shares of Halliburton (NYSE HAL) traded up $0.43 during midday trading on Tuesday, reaching $56.83. The company had a trading volume of 13,745,601 shares, compared to its average volume of 8,610,000. Halliburton has a 1 year low of $38.18 and a 1 year high of $58.78. The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $49,590.00, a PE ratio of 236.79, a PEG ratio of 2.94 and a beta of 1.03.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. sell-side analysts forecast that Halliburton will post 1.15 earnings per share for the current fiscal year.
In other news, Chairman David J. Lesar sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the transaction, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lawrence J. Pope sold 9,100 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $41.35, for a total value of $376,285.00. Following the transaction, the executive vice president now owns 180,646 shares in the company, valued at approximately $7,469,712.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,612 shares of company stock worth $6,556,433. 0.47% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in Halliburton during the 4th quarter worth $131,000. YorkBridge Wealth Partners LLC increased its stake in Halliburton by 243.3% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 3,165 shares of the oilfield services company’s stock worth $146,000 after acquiring an additional 2,243 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Halliburton during the 3rd quarter worth $184,000. Krilogy Financial LLC increased its stake in Halliburton by 35.9% during the 2nd quarter. Krilogy Financial LLC now owns 4,588 shares of the oilfield services company’s stock worth $196,000 after acquiring an additional 1,212 shares during the period. Finally, Neville Rodie & Shaw Inc. bought a new position in Halliburton during the 3rd quarter worth $202,000. Institutional investors own 79.89% of the company’s stock.
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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.