Citigroup Increases Halliburton (NYSE:HAL) Price Target to $50.00

Halliburton (NYSE:HAL) had its target price hoisted by analysts at Citigroup from $45.00 to $50.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. Citigroup’s price target would suggest a potential upside of 29.13% from the company’s current price.

HAL has been the subject of several other research reports. Susquehanna restated a “positive” rating and set a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. Barclays cut their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Halliburton in a research note on Wednesday. Raymond James cut their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, The Goldman Sachs Group increased their price objective on Halliburton from $46.00 to $48.00 in a research report on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.82.

Halliburton Price Performance

HAL opened at $38.72 on Wednesday. Halliburton has a 52 week low of $27.84 and a 52 week high of $43.85. The business has a 50 day moving average price of $37.81 and a two-hundred day moving average price of $37.41. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. The company has a market cap of $34.32 billion, a PE ratio of 13.40, a P/E/G ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Halliburton will post 3.42 EPS for the current year.

Insider Buying and Selling at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the 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 sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Halliburton

A number of hedge funds have recently added to or reduced their stakes in the business. Strategy Asset Managers LLC boosted its stake in Halliburton by 25.3% in the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock worth $797,000 after buying an additional 4,086 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Halliburton in the 1st quarter worth about $206,000. Aaron Wealth Advisors LLC acquired a new stake in Halliburton in the 1st quarter worth about $235,000. Valeo Financial Advisors LLC boosted its stake in Halliburton by 4.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,935 shares of the oilfield services company’s stock worth $385,000 after buying an additional 411 shares during the last quarter. Finally, IAG Wealth Partners LLC acquired a new stake in Halliburton in the 1st quarter worth about $30,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.