Barclays Increases Halliburton (NYSE:HAL) Price Target to $30.00

Halliburton (NYSE:HAL) had its target price upped by equities research analysts at Barclays from $25.00 to $30.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm presently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s price target would indicate a potential upside of 8.24% from the stock’s previous close.

Several other equities research analysts also recently issued reports on HAL. Rothschild & Co Redburn initiated coverage on Halliburton in a report on Monday, November 3rd. They issued a “buy” rating and a $35.00 price target for the company. Susquehanna boosted their price objective on Halliburton from $27.00 to $29.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Rothschild Redb raised shares of Halliburton to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Redburn Partners set a $35.00 price objective on shares of Halliburton in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Halliburton Stock Performance

HAL stock opened at $27.72 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.70. Halliburton has a twelve month low of $18.72 and a twelve month high of $30.40. The company has a market cap of $23.33 billion, a P/E ratio of 18.36 and a beta of 0.81. The business’s fifty day moving average is $26.34 and its 200-day moving average is $23.58.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the business posted $0.73 EPS. Halliburton’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 2.64 EPS for the current year.

Insider Buying and Selling at Halliburton

In other Halliburton news, insider Mark Richard sold 160,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $27.77, for a total transaction of $4,443,200.00. Following the sale, the insider directly owned 452,374 shares of the company’s stock, valued at $12,562,425.98. The trade was a 26.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Van H. Beckwith sold 8,854 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $27.89, for a total value of $246,938.06. Following the completion of the transaction, the executive vice president owned 333,528 shares of the company’s stock, valued at $9,302,095.92. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $287,000. V Square Quantitative Management LLC lifted its holdings in Halliburton by 82.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company’s stock valued at $997,000 after purchasing an additional 22,045 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Halliburton by 42.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock worth $7,816,000 after purchasing an additional 91,791 shares during the period. Perpetual Ltd increased its holdings in shares of Halliburton by 29.7% in the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company’s stock valued at $22,050,000 after purchasing an additional 248,015 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Halliburton by 2,895.2% in the first quarter. Jump Financial LLC now owns 756,150 shares of the oilfield services company’s stock valued at $19,184,000 after purchasing an additional 730,905 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.