Guggenheim set a $50.00 price objective on Halliburton (NYSE:HAL) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the oilfield services company’s stock.
HAL has been the subject of a number of other reports. Wells Fargo & Co reiterated a buy rating on shares of Halliburton in a research note on Friday, September 7th. Wolfe Research initiated coverage on Halliburton in a research note on Wednesday, October 10th. They issued an outperform rating for the company. Credit Suisse Group set a $51.00 price target on Halliburton and gave the stock a buy rating in a research note on Thursday, September 6th. ValuEngine downgraded Halliburton from a hold rating to a sell rating in a research note on Friday, October 19th. Finally, Cleveland Research downgraded Halliburton from a buy rating to a neutral rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $51.60.
NYSE:HAL traded up $0.40 during mid-day trading on Wednesday, reaching $35.14. The stock had a trading volume of 12,585,399 shares, compared to its average volume of 10,590,042. The company has a market capitalization of $30.57 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.01. Halliburton has a 1-year low of $33.73 and a 1-year high of $57.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.72 and a current ratio of 2.31.
In other Halliburton news, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Avestar Capital LLC raised its holdings in Halliburton by 1,159.6% during the second quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after purchasing an additional 2,180 shares in the last quarter. Sun Life Financial INC raised its stake in Halliburton by 1,170.1% in the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after purchasing an additional 2,188 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in shares of Halliburton in the 2nd quarter valued at approximately $130,000. Banco de Sabadell S.A acquired a new position in shares of Halliburton in the 2nd quarter valued at approximately $136,000. Finally, Trust Co. of Vermont increased its position in Halliburton by 58.5% during the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock worth $137,000 after purchasing an additional 1,116 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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