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

Halliburton (NYSE:HAL) had its price target hoisted by stock analysts at Barclays from $25.00 to $30.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has an “equal weight” rating on the oilfield services company’s stock. Barclays‘s target price suggests a potential upside of 7.24% from the company’s previous close.

HAL has been the subject of several other reports. Stifel Nicolaus set a $32.00 target price on shares of Halliburton in a research report on Wednesday, October 22nd. Zephirin Group increased their price objective on Halliburton from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research note on Tuesday, December 9th. Melius Research began coverage on shares of Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Piper Sandler boosted their price objective on shares of Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Halliburton Stock Performance

NYSE:HAL opened at $27.98 on Tuesday. The business’s fifty day moving average is $26.21 and its 200 day moving average is $23.49. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 18.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. Halliburton has a 52-week low of $18.72 and a 52-week high of $30.40.

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

Insider Activity

In other Halliburton news, EVP Van H. Beckwith sold 8,854 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $27.89, for a total transaction 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 approximately $9,302,095.92. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Richard sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the completion of the sale, the insider directly owned 452,374 shares in the company, valued at approximately $12,562,425.98. This represents a 26.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently made changes to their positions in HAL. Vanguard Group Inc. boosted its stake in shares of Halliburton by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock worth $2,147,310,000 after buying an additional 1,617,696 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Halliburton by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,287,989 shares of the oilfield services company’s stock worth $617,269,000 after buying an additional 346,218 shares during the last quarter. Sanders Capital LLC grew its position in Halliburton by 9.4% during the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after buying an additional 2,238,983 shares during the period. Finally, Geode Capital Management LLC raised its position in Halliburton by 0.4% in the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock worth $453,461,000 after acquiring an additional 92,549 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.