Halliburton (HAL) Earns Buy Rating from Loop Capital

Halliburton (NYSE:HAL)‘s stock had its “buy” rating reaffirmed by investment analysts at Loop Capital in a report issued on Tuesday, MarketBeat reports. They currently have a $69.00 target price on the oilfield services company’s stock, up from their previous target price of $57.00. Loop Capital’s target price points to a potential upside of 22.34% from the company’s current price.

A number of other analysts have also recently issued reports on HAL. ValuEngine raised Halliburton from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Zacks Investment Research cut Halliburton from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Citigroup increased their target price on Halliburton from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. TheStreet raised Halliburton from a “d+” rating to a “c-” rating in a research note on Friday, September 29th. Finally, Cowen set a $50.00 target price on Halliburton and gave the stock a “hold” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $58.77.

Shares of Halliburton (HAL) traded up $3.39 during mid-day trading on Tuesday, hitting $56.40. The stock had a trading volume of 17,799,100 shares, compared to its average volume of 9,751,735. Halliburton has a one year low of $38.18 and a one year high of $58.78. The company has a current ratio of 2.20, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13. The company has a market cap of $49,700.00, a PE ratio of 235.00, a PEG ratio of 2.94 and a beta of 1.03.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period in the prior year, the business earned $0.04 EPS. Halliburton’s revenue for the quarter was up 47.7% compared to the same quarter last year. analysts anticipate that Halliburton will post 1.15 EPS for the current year.

In other news, VP Anne L. Beaty sold 1,245 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $51.50, for a total transaction of $64,117.50. Following the completion of the transaction, the vice president now directly owns 60,839 shares of the company’s stock, valued at approximately $3,133,208.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the firm’s 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 directly owns 490,143 shares of the company’s stock, valued at $21,419,249.10. The disclosure for this sale can be found here. Insiders have sold a total of 141,612 shares of company stock valued at $6,556,433 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Halliburton by 0.8% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 13,715 shares of the oilfield services company’s stock valued at $586,000 after buying an additional 115 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Halliburton by 0.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 19,775 shares of the oilfield services company’s stock valued at $845,000 after buying an additional 120 shares during the last quarter. Covington Capital Management boosted its holdings in shares of Halliburton by 0.8% in the 2nd quarter. Covington Capital Management now owns 23,814 shares of the oilfield services company’s stock valued at $1,017,000 after buying an additional 185 shares during the last quarter. National Asset Management Inc. boosted its holdings in shares of Halliburton by 7.9% in the 2nd quarter. National Asset Management Inc. now owns 5,271 shares of the oilfield services company’s stock valued at $227,000 after buying an additional 385 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Halliburton by 1.7% in the 2nd quarter. Scotia Capital Inc. now owns 23,633 shares of the oilfield services company’s stock valued at $1,009,000 after buying an additional 403 shares during the last quarter. 79.89% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Halliburton (NYSE:HAL)

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