Citigroup Boosts Halliburton (NYSE:HAL) Price Target to $50.00

Halliburton (NYSE:HAL - Free Report) had its price target increased by Citigroup from $45.00 to $50.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the oilfield services company's stock.

A number of other brokerages also recently commented on HAL. Barclays reduced their price objective on shares of Halliburton from $55.00 to $54.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Morgan Stanley upped their price target on Halliburton from $45.00 to $50.00 and gave the stock an overweight rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an outperform rating and set a $45.00 price target on shares of Halliburton in a research report on Wednesday, January 24th. Benchmark reaffirmed a buy rating and set a $45.00 price target on shares of Halliburton in a research report on Wednesday. Finally, Susquehanna reaffirmed a positive rating and set a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $48.82.

Halliburton Stock Up 0.3 %

NYSE:HAL traded up $0.13 during trading hours on Wednesday, reaching $38.72. The company's stock had a trading volume of 7,752,998 shares, compared to its average volume of 7,155,866. The company has a market capitalization of $34.32 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06. The stock has a 50 day moving average price of $37.75 and a two-hundred day moving average price of $37.40.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. Halliburton's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts predict that Halliburton will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company's stock, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company's stock, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently modified their holdings of the company. Impact Partnership Wealth LLC acquired a new stake in Halliburton in the 3rd quarter valued at about $45,000. Caprock Group LLC boosted its position in shares of Halliburton by 26.4% during the 3rd quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company's stock worth $1,044,000 after purchasing an additional 5,384 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of Halliburton by 0.4% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 62,157 shares of the oilfield services company's stock worth $2,517,000 after purchasing an additional 276 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $210,000. Finally, CX Institutional purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $344,000. 85.23% of the stock is 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.