Halliburton (NYSE:HAL) Given New $28.00 Price Target at Zephirin Group

Key Points

• Research analysts at Zephirin Group have raised Halliburton's price target from $27.00 to $28.00, indicating a potential upside of 15.20%.
• Halliburton's earnings per share matched analysts' expectations at $0.55, with quarterly revenue reaching $5.51 billion.
• Currently, the company has a consensus rating of "Moderate Buy" with an average target price set at $31.20 among equity research analysts.

Halliburton (NYSE:HAL - Get Free Report) had its price objective raised by research analysts at Zephirin Group from $27.00 to $28.00 in a research report issued on Thursday,MarketScreener reports. The brokerage presently has a "buy" rating on the oilfield services company's stock. Zephirin Group's price target indicates a potential upside of 15.20% from the stock's previous close.

HAL has been the subject of several other reports. Royal Bank Of Canada reduced their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Monday, July 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Halliburton in a research note on Saturday, September 27th. UBS Group upped their target price on Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, Melius initiated coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Halliburton Trading Down 0.3%

HAL opened at $24.31 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 firm's 50 day moving average is $22.42 and its 200-day moving average is $21.85. The firm has a market capitalization of $20.72 billion, a P/E ratio of 11.36 and a beta of 1.02.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm's revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Analysts expect that Halliburton will post 2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Halliburton

Large investors have recently bought and sold shares of the company. Aaron Wealth Advisors LLC acquired a new stake in Halliburton during the 3rd quarter valued at approximately $233,000. GAMMA Investing LLC boosted its holdings in Halliburton by 11.0% in the third quarter. GAMMA Investing LLC now owns 17,813 shares of the oilfield services company's stock worth $438,000 after acquiring an additional 1,762 shares in the last quarter. Park National Corp OH increased its stake in Halliburton by 4.4% during the 3rd quarter. Park National Corp OH now owns 327,386 shares of the oilfield services company's stock valued at $8,054,000 after purchasing an additional 13,833 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Halliburton by 10.3% during the second quarter. Corient Private Wealth LLC now owns 122,856 shares of the oilfield services company's stock worth $2,504,000 after acquiring an additional 11,439 shares in the last quarter. Finally, Caldwell Trust Co bought a new position in Halliburton in the 2nd quarter valued at about $64,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Company Profile

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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