Halliburton (NYSE:HAL) Stock Rating Upgraded by Barclays

Halliburton (NYSE:HAL) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday. The firm currently has a $55.00 price target on the oilfield services company’s stock. Barclays‘s price target indicates a potential upside of 36.08% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada upped their price objective on Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group boosted their price target on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Evercore raised Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, March 20th. Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Capital One Financial boosted their target price on Halliburton from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.91.

Halliburton Stock Down 3.1%

Shares of Halliburton stock opened at $40.42 on Thursday. The company has a 50-day simple moving average of $37.51 and a two-hundred day simple moving average of $32.40. The stock has a market capitalization of $33.76 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73. Halliburton has a 52-week low of $19.22 and a 52-week high of $42.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, analysts anticipate that Halliburton will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Halliburton

In other news, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president owned 72,976 shares of the company’s stock, valued at approximately $3,064,992. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the transaction, the insider owned 93,763 shares of the company’s stock, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 222,488 shares of company stock worth $8,789,305. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Several large investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Halliburton by 10.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock valued at $109,000 after buying an additional 258 shares during the last quarter. Vermillion Wealth Management Inc. increased its stake in Halliburton by 24.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after acquiring an additional 289 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Halliburton by 1.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after acquiring an additional 349 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Halliburton by 7.3% during the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock valued at $150,000 after acquiring an additional 361 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of Halliburton by 3.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock valued at $293,000 after acquiring an additional 365 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Company Profile

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.