Capital One Financial Raises Halliburton (NYSE:HAL) Price Target to $50.00

Halliburton (NYSE:HAL) had its price objective raised by Capital One Financial from $41.00 to $50.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “overweight” rating on the oilfield services company’s stock. Capital One Financial‘s price objective would indicate a potential upside of 15.24% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Barclays raised Halliburton from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $55.00 in a research report on Thursday, May 7th. TD Cowen raised their price target on Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Finally, Zephirin Group upped their price objective on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Halliburton Trading Up 0.9%

HAL stock traded up $0.41 during mid-day trading on Wednesday, reaching $43.39. The company had a trading volume of 929,081 shares, compared to its average volume of 14,627,031. The company has a market capitalization of $36.25 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The firm has a 50 day moving average of $38.59 and a 200 day moving average of $33.38. Halliburton has a 12 month low of $19.38 and a 12 month high of $43.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Halliburton will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halliburton news, CEO Jeffrey Allen Miller sold 158,455 shares of Halliburton stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the sale, the chief executive officer owned 1,013,027 shares of the company’s stock, valued at approximately $40,521,080. The trade was a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the sale, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 420,837 shares of company stock worth $16,979,135 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after acquiring an additional 6,507 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after purchasing an additional 20,583 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after purchasing an additional 10,408 shares during the last quarter. Intech Investment Management LLC lifted its position in Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock valued at $1,749,000 after purchasing an additional 52,092 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Halliburton in the first quarter valued at $895,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.