Halliburton (NYSE:HAL) Stock Rating Upgraded by Hsbc Global Res

Halliburton (NYSE:HAL) was upgraded by equities researchers at Hsbc Global Res to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. cut their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their target price on Halliburton from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday. Susquehanna reduced their price target on shares of Halliburton from $32.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus dropped their price objective on shares of Halliburton from $37.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.68.

Halliburton Stock Up 2.8 %

Shares of NYSE:HAL opened at $21.19 on Wednesday. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 3.79 and a beta of 1.45. Halliburton has a 12-month low of $18.72 and a 12-month high of $38.91. The business has a 50-day moving average price of $23.86 and a 200 day moving average price of $26.87. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Sell-side analysts expect that Halliburton will post 2.64 EPS for the current year.

Insider Transactions at Halliburton

In other news, Director Margaret Katherine Banks sold 3,900 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total value of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. The trade was a 26.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy Mckeon sold 10,497 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the transaction, the vice president now owns 77,784 shares in the company, valued at $1,913,486.40. This represents a 11.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Halliburton

Several institutional investors and hedge funds have recently bought and sold shares of HAL. Mascagni Wealth Management Inc. acquired a new position in Halliburton in the fourth quarter valued at $28,000. Horrell Capital Management Inc. purchased a new position in shares of Halliburton during the fourth quarter worth about $33,000. Sierra Ocean LLC purchased a new position in shares of Halliburton during the fourth quarter worth about $36,000. Modus Advisors LLC acquired a new stake in Halliburton during the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Halliburton in the fourth quarter valued at approximately $39,000. 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.