Halliburton (NYSE:HAL) Price Target Raised to $50.00 at Capital One Financial

Key Points

• Capital One Financial raised its price target on Halliburton to $50 from $41 and kept an overweight rating, implying about 15% upside from the current share price.
• Other analysts have also turned more bullish on HAL, with several recent price target increases and rating upgrades; the stock now carries a Moderate Buy consensus and a average target of $42.86.
• Halliburton shares were up 0.9% to $43.39, near their 52-week high, after the company recently beat EPS expectations with $0.55 per share on $5.40 billion in revenue.

Halliburton (NYSE:HAL - Get Free Report) had its target price lifted by equities research analysts at Capital One Financial from $41.00 to $50.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has an "overweight" rating on the oilfield services company's stock. Capital One Financial's target price would indicate a potential upside of 15.24% from the stock's current price.

Several other equities research analysts also recently weighed in on HAL. Griffin Securities raised shares of Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 price target for the company in a research report on Wednesday, April 22nd. Rothschild & Co Redburn upped their price objective on Halliburton from $40.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Citigroup increased their target price on Halliburton from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their target price on Halliburton from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, Susquehanna upped their price target on Halliburton from $40.00 to $45.00 and gave the company a "positive" rating in a report on Tuesday, April 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.86.

Halliburton Stock Up 0.9%

Shares of NYSE HAL traded up $0.41 during trading on Wednesday, reaching $43.39. The company had a trading volume of 929,081 shares, compared to its average volume of 14,627,031. Halliburton has a 12-month low of $19.38 and a 12-month high of $43.59. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The business's 50-day moving average is $38.59 and its 200 day moving average is $33.38. The stock has a market cap of $36.25 billion, a PE ratio of 23.88, a P/E/G ratio of 1.87 and a beta of 0.73.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping 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 previous year, the firm earned $0.60 EPS. Halliburton's quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Halliburton will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the sale, the director owned 15,250 shares in the company, valued at approximately $636,230. This represents a 28.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Allen Miller sold 158,455 shares of Halliburton stock in a transaction on Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the transaction, the chief executive officer directly owned 1,013,027 shares of the company's stock, valued at $40,521,080. The trade was a 13.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 420,837 shares of company stock worth $16,979,135 in the last three months. Corporate insiders own 0.57% of the company's stock.

Institutional Trading of Halliburton

Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company's stock worth $2,239,349,000 after buying an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company's stock valued at $841,339,000 after acquiring an additional 29,735,387 shares during the period. Strive Asset Management LLC bought a new position in Halliburton in the 3rd quarter valued at $418,738,000. Norges Bank bought a new position in Halliburton in the 4th quarter valued at $169,304,000. Finally, Holocene Advisors LP purchased a new stake in Halliburton in the third quarter worth $147,315,000. Institutional investors own 85.23% of the company's stock.

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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