Halliburton (HAL) Given a $50.00 Price Target at Guggenheim

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.



Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.10 billion. Halliburton had a return on equity of 20.42% and a net margin of 0.70%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. On average, equities research analysts forecast that Halliburton will post 1.86 EPS for the current fiscal year.

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.

About Halliburton

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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Analyst Recommendations for Halliburton (NYSE:HAL)

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