Halliburton (NYSE:HAL) Given New $49.00 Price Target at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn raised Halliburton’s price target from $40 to $49 and kept a buy rating, implying about 18.45% upside from the current price.
• Halliburton’s shares were up 0.2% to $41.37, near their 52-week high, while the stock remains supported by a Moderate Buy consensus and an average analyst target of $42.45.
• The company recently beat quarterly earnings expectations, reporting $0.55 EPS versus $0.50 expected and revenue of $5.40 billion, though insider selling totaled 222,488 shares over the past 90 days.

Halliburton (NYSE:HAL - Get Free Report) had its price target increased by analysts at Rothschild & Co Redburn from $40.00 to $49.00 in a report issued on Friday,MarketScreener reports. The firm currently has a "buy" rating on the oilfield services company's stock. Rothschild & Co Redburn's target price suggests a potential upside of 18.45% from the company's current price.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a "buy" rating and set a $47.00 target price on shares of Halliburton in a research report on Sunday, April 26th. Stifel Nicolaus reiterated a "buy" rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. BMO Capital Markets boosted their price objective on shares of Halliburton from $42.00 to $45.00 and gave the company a "market perform" rating in a report on Wednesday. Capital One Financial upped their target price on Halliburton from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada raised their target price on Halliburton from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and an average target price of $42.45.

Halliburton Stock Up 0.2%

NYSE HAL traded up $0.08 on Friday, hitting $41.37. The stock had a trading volume of 669,657 shares, compared to its average volume of 14,772,198. The business's fifty day moving average price is $38.09 and its 200 day moving average price is $33.06. The stock has a market cap of $34.56 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton has a 52-week low of $19.38 and a 52-week high of $42.46.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Halliburton will post 2.32 earnings per share for the current year.

Insider Activity at Halliburton

In other news, VP Timothy Mckeon sold 8,655 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the transaction, the vice president owned 72,976 shares of the company's stock, valued at $3,064,992. The trade was a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director directly owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,488 shares of company stock valued at $8,789,305 over the last ninety days. Corporate insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company's stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. State Street Corp increased its stake in shares of Halliburton by 1.7% in the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company's stock valued at $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Halliburton by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company's stock valued at $878,806,000 after purchasing an additional 443,064 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company's stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the period. Finally, Sanders Capital LLC raised its holdings in Halliburton by 9.4% in the 3rd quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company's stock worth $639,715,000 after purchasing an additional 2,238,983 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Halliburton

Halliburton is one of the world's largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company's activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

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