Halliburton (NYSE:HAL) received a $60.00 price objective from equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday. The firm presently has a “buy” rating on the oilfield services company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 24.56% from the stock’s previous close.
Several other research firms have also recently weighed in on HAL. B. Riley restated a “buy” rating on shares of Halliburton in a research report on Wednesday, November 1st. TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Wells Fargo & Company restated an “outperform” rating and issued a $56.00 price objective (up previously from $51.00) on shares of Halliburton in a research report on Thursday. Piper Jaffray Companies set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Loop Capital restated a “buy” rating and issued a $57.00 price objective (down previously from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.47.
Shares of Halliburton (HAL) traded up $0.75 during trading on Thursday, hitting $48.17. 10,710,600 shares of the company were exchanged, compared to its average volume of 8,782,556. The firm has a market cap of $41,375.89, a PE ratio of 64.96, a P/E/G ratio of 5.12 and a beta of 1.03. The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. Halliburton has a 1-year low of $38.18 and a 1-year high of $58.78.
In related news, EVP Lawrence J. Pope sold 9,100 shares of Halliburton stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $41.35, for a total transaction of $376,285.00. Following the transaction, the executive vice president now owns 180,646 shares of the company’s stock, valued at approximately $7,469,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of Halliburton 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 in the company, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,585 shares of company stock valued at $3,858,920. 0.46% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in HAL. Kovitz Investment Group lifted its stake in Halliburton by 0.5% in the third quarter. Kovitz Investment Group now owns 1,124,391 shares of the oilfield services company’s stock valued at $39,747,000 after buying an additional 5,685 shares in the last quarter. Nikko Asset Management Americas raised its holdings in shares of Halliburton by 10.2% in the fourth quarter. Nikko Asset Management Americas now owns 338,200 shares of the oilfield services company’s stock valued at $11,543,000 after purchasing an additional 31,200 shares during the last quarter. Armstrong Shaw Associates Inc. CT raised its holdings in shares of Halliburton by 56.2% in the fourth quarter. Armstrong Shaw Associates Inc. CT now owns 297,169 shares of the oilfield services company’s stock valued at $10,116,000 after purchasing an additional 106,948 shares during the last quarter. Eagle Asset Management raised its holdings in shares of Halliburton by 88.9% in the third quarter. Eagle Asset Management now owns 2,429,184 shares of the oilfield services company’s stock valued at $85,870,000 after purchasing an additional 1,143,280 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its holdings in shares of Halliburton by 81.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 117,672 shares of the oilfield services company’s stock valued at $4,006,000 after purchasing an additional 52,935 shares during the last quarter. 79.79% of the stock is currently owned by institutional investors and hedge funds.
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About Halliburton
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.
