Halliburton (NYSE:HAL) Given New $25.00 Price Target at Barclays

Key Points

• Barclays has raised Halliburton's price target from $20.00 to $25.00 while maintaining an "equal weight" rating, indicating a potential downside of 4.92% from its current price.
• Halliburton's quarterly earnings exceeded expectations, reporting $0.58 EPS on revenues of $5.60 billion, while its revenue was down 1.7% from the previous year.
• Institutional investors and hedge funds now own 85.23% of Halliburton's stock, reflecting significant investor confidence in the company.

Halliburton (NYSE:HAL - Get Free Report) had its price objective raised by Barclays from $20.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the oilfield services company's stock. Barclays's price target would indicate a potential downside of 4.92% from the company's current price.

Other research analysts have also issued reports about the stock. Citigroup reiterated a "buy" rating on shares of Halliburton in a research note on Tuesday, October 14th. Bank of America raised their target price on shares of Halliburton from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Royal Bank Of Canada raised Halliburton from a "sector perform" rating to an "outperform" rating in a research report on Wednesday. Zephirin Group upped their price target on Halliburton from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, Hsbc Global Res upgraded Halliburton from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.40.

Halliburton Trading Up 4.2%

HAL opened at $26.30 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. Halliburton has a 52 week low of $18.72 and a 52 week high of $32.57. The stock has a market cap of $22.42 billion, a PE ratio of 17.41 and a beta of 1.02. The business has a 50 day moving average of $22.86 and a 200-day moving average of $21.73.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a return on equity of 20.00% and a net margin of 5.91%.The firm's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. Equities research analysts predict that Halliburton will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

Several hedge funds have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in shares of Halliburton in the 2nd quarter valued at approximately $287,000. V Square Quantitative Management LLC increased its stake in Halliburton by 82.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company's stock valued at $997,000 after purchasing an additional 22,045 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Halliburton by 42.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company's stock worth $7,816,000 after buying an additional 91,791 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Halliburton by 29.7% during the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company's stock worth $22,050,000 after buying an additional 248,015 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Halliburton by 33.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after acquiring an additional 40,109 shares during the period. Institutional investors and hedge funds 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.

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