The FBR & Co Increases Halliburton Co. (HAL) Price Target to $58.00

The FBR & Co Increases Halliburton Co. (HAL) Price Target to $58.00

Halliburton Co. (NYSE:HAL) had its target price increased by equities researchers at FBR & Co from $53.00 to $58.00 in a report issued on Friday. The firm currently has an “outperform” rating on the oilfield services company’s stock. FBR & Co’s price objective suggests a potential upside of 25.22% from the company’s current price.

Other analysts also recently issued research reports about the stock. Johnson Rice reissued an “accumulate” rating on shares of Halliburton in a research report on Monday, July 25th. Citigroup Inc. reissued a “buy” rating on shares of Halliburton in a research report on Saturday, June 25th. Vetr downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 target price for the company. in a research report on Wednesday, June 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $56.00 price objective (up previously from $47.00) on shares of Halliburton in a research report on Monday, July 11th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Halliburton in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $47.30.

Shares of Halliburton (NYSE:HAL) opened at 46.32 on Friday. The firm’s 50-day moving average is $43.78 and its 200-day moving average is $42.70. Halliburton has a 12-month low of $27.64 and a 12-month high of $47.96. The firm’s market cap is $39.89 billion.

Halliburton (NYSE:HAL) last posted its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The firm earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The company’s revenue was down 35.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities analysts expect that Halliburton will post ($0.18) earnings per share for the current fiscal year.

In other Halliburton news, insider James S. Brown sold 28,439 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.00, for a total transaction of $1,336,633.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Johnson Financial Group Inc. raised its stake in shares of Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock worth $103,000 after buying an additional 772 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock worth $104,000 after buying an additional 379 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in shares of Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock worth $117,000 after buying an additional 648 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Halliburton during the second quarter worth approximately $120,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Halliburton Company Profile

Related posts

Leave a Comment