Halliburton (NYSE:HAL) Now Covered by Analysts at Melius

Key Points

• Analysts at Melius have initiated coverage of Halliburton with a buy rating and a price target of $41.00, suggesting a potential upside of 94.29% from the current price.
• Thirteen analysts currently rate Halliburton as a Buy with a consensus rating of Moderate Buy and a consensus price target of $31.53.
• In its latest earnings report, Halliburton reported $5.51 billion in revenue and $0.55 earnings per share, meeting analyst expectations but showing a 5.5% decline in revenue compared to the previous year.

Equities researchers at Melius assumed coverage on shares of Halliburton (NYSE:HAL - Get Free Report) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $41.00 price target on the oilfield services company's stock. Melius' price objective would indicate a potential upside of 94.29% from the company's current price.

Several other research firms have also commented on HAL. Morgan Stanley dropped their target price on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Hsbc Global Res raised Halliburton to a "hold" rating in a report on Wednesday, April 23rd. Citigroup cut their price target on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays cut their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.53.

Halliburton Stock Performance

NYSE HAL opened at $21.1030 on Wednesday. The firm has a market capitalization of $17.99 billion, a P/E ratio of 9.86, a PEG ratio of 3.73 and a beta of 1.12. The stock has a 50-day simple moving average of $21.66 and a two-hundred day simple moving average of $22.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. Halliburton has a fifty-two week low of $18.72 and a fifty-two week high of $32.57.

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

Institutional Investors Weigh In On Halliburton

Several large investors have recently bought and sold shares of HAL. ORG Partners LLC increased its holdings in shares of Halliburton by 13,675.2% in the first quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock valued at $440,000 after purchasing an additional 17,094 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Halliburton by 33.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after purchasing an additional 40,109 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Halliburton by 22.9% in the first quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock valued at $3,256,000 after purchasing an additional 23,887 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Halliburton by 2.5% in the first quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company's stock valued at $70,530,000 after purchasing an additional 67,704 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Halliburton by 754.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 824,549 shares of the oilfield services company's stock valued at $20,671,000 after purchasing an additional 728,059 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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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