Halliburton (NYSE:HAL) Rating Increased to Strong-Buy at Hsbc Global Res

Key Points

• Halliburton has been upgraded from a "hold" to a "strong-buy" rating by Hsbc Global Res, indicating positive future expectations for the company's stock.
• Shares of Halliburton saw a price target increase from $25.00 to $27.00 by Piper Sandler, while other analysts maintain a majority "buy" rating.
• Halliburton reported earnings of $0.58 per share for its latest quarter, surpassing analysts' estimates and achieving revenue of $5.60 billion.

Halliburton (NYSE:HAL - Get Free Report) was upgraded by stock analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Piper Sandler raised their price target on shares of Halliburton from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday. Citigroup restated a "buy" rating on shares of Halliburton in a research report on Tuesday, October 14th. Royal Bank Of Canada upgraded shares of Halliburton from a "sector perform" rating to an "outperform" rating in a research report on Wednesday. Melius Research began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Halliburton from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.00.

Halliburton Stock Performance

NYSE:HAL opened at $26.30 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The company has a fifty day moving average of $22.86 and a two-hundred day moving average of $21.73. The stock has a market capitalization of $22.42 billion, a PE ratio of 17.41 and a beta of 1.02. 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 quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.00%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, research analysts forecast that Halliburton will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Greenleaf Trust grew its position in Halliburton by 3.3% in the 3rd quarter. Greenleaf Trust now owns 16,390 shares of the oilfield services company's stock valued at $403,000 after buying an additional 519 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Halliburton by 3.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 968,913 shares of the oilfield services company's stock worth $23,835,000 after purchasing an additional 31,038 shares in the last quarter. CWA Asset Management Group LLC boosted its position in shares of Halliburton by 2.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 113,624 shares of the oilfield services company's stock worth $2,795,000 after purchasing an additional 3,218 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Halliburton during the 3rd quarter worth $216,000. Finally, Capital Advisors Inc. OK purchased a new stake in shares of Halliburton during the 3rd quarter worth $223,000. 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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