Susquehanna Boosts Halliburton (NYSE:HAL) Price Target to $29.00

Key Points

• Susquehanna has raised Halliburton's price target to $29.00, indicating a potential upside of 10.6% from the company's previous close.
• Halliburton's stock recently observed a 3.9% increase, reaching $26.22, with trading volume significantly lower than its average.
• Institutional investors currently hold 85.23% of Halliburton's stock, reflecting strong support from larger financial entities.

Halliburton (NYSE:HAL - Get Free Report) had its price objective lifted by Susquehanna from $27.00 to $29.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a "positive" rating on the oilfield services company's stock. Susquehanna's price target points to a potential upside of 10.60% from the company's previous close.

Other research analysts have also issued research reports about the company. UBS Group raised their price objective on Halliburton from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. The Goldman Sachs Group boosted their target price on Halliburton from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Weiss Ratings reissued a "hold (c-)" rating on shares of Halliburton in a report on Wednesday, October 8th. Melius assumed coverage on Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Finally, Bank of America upped their price target on Halliburton from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, October 14th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Stock Up 3.9%

Halliburton stock traded up $0.98 on Wednesday, hitting $26.22. 3,499,749 shares of the stock traded hands, compared to its average volume of 13,606,906. Halliburton has a 1 year low of $18.72 and a 1 year high of $32.57. The firm has a market cap of $22.36 billion, a P/E ratio of 12.25 and a beta of 1.02. The business's fifty day simple moving average is $22.76 and its 200 day simple moving average is $21.70. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL - Get Free Report) last announced 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. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Halliburton will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. raised its stake in shares of Halliburton by 7.3% in the second quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company's stock worth $150,000 after buying an additional 504 shares during the period. Cerro Pacific Wealth Advisors LLC grew its position in shares of Halliburton by 4.3% during the second quarter. Cerro Pacific Wealth Advisors LLC now owns 13,590 shares of the oilfield services company's stock worth $277,000 after purchasing an additional 559 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Halliburton by 2.6% during the second quarter. International Assets Investment Management LLC now owns 22,307 shares of the oilfield services company's stock worth $455,000 after purchasing an additional 566 shares in the last quarter. Mediolanum International Funds Ltd grew its position in shares of Halliburton by 0.8% during the first quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company's stock worth $1,815,000 after purchasing an additional 584 shares in the last quarter. Finally, Hills Bank & Trust Co raised its position in shares of Halliburton by 1.6% during the first quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company's stock valued at $983,000 after buying an additional 595 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

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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