UBS Group Increases Halliburton (NYSE:HAL) Price Target to $51.00

Halliburton (NYSE:HAL) had its target price lifted by UBS Group from $46.00 to $51.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the oilfield services company’s stock. UBS Group’s price objective suggests a potential upside of 31.71% from the stock’s previous close.

HAL has been the subject of several other research reports. Morgan Stanley raised their target price on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. Barclays cut their target price on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Raymond James cut their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.82.

Halliburton Price Performance

NYSE:HAL opened at $38.72 on Tuesday. Halliburton has a one year low of $27.84 and a one year high of $43.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06. The stock has a market cap of $34.32 billion, a PE ratio of 13.22, a P/E/G ratio of 0.99 and a beta of 2.00. The stock has a 50 day moving average price of $37.75 and a 200 day moving average price of $37.40.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that Halliburton will post 3.42 EPS for the current fiscal year.

Insider Transactions at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in Halliburton during the 1st quarter worth about $26,000. Ancora Advisors LLC lifted its holdings in Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after buying an additional 719 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Halliburton during the 4th quarter worth about $33,000. Ogorek Anthony Joseph NY ADV lifted its holdings in Halliburton by 1,134.6% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 1,000 shares of the oilfield services company’s stock worth $40,000 after buying an additional 919 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Halliburton during the 4th quarter worth about $36,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

About Halliburton

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.