Halliburton (NYSE:HAL) Stock Rating Upgraded by Hsbc Global Res

Halliburton (NYSE:HAL) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus set a $32.00 target price on shares of Halliburton in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Barclays dropped their price objective on shares of Halliburton from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Melius initiated coverage on shares of Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Halliburton from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Halliburton Price Performance

Halliburton stock opened at $26.30 on Wednesday. The firm’s 50-day simple moving average is $22.86 and its 200 day simple moving average is $21.73. Halliburton has a 52 week low of $18.72 and a 52 week high of $32.57. The firm has a market capitalization of $22.42 billion, a PE ratio of 17.41 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.00%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Halliburton will post 2.64 EPS for the current fiscal year.

Institutional Trading of Halliburton

Institutional investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Halliburton during the 2nd quarter worth about $287,000. V Square Quantitative Management LLC grew its holdings in shares of Halliburton by 82.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company’s stock worth $997,000 after purchasing an additional 22,045 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Halliburton by 42.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock worth $7,816,000 after purchasing an additional 91,791 shares during the period. Perpetual Ltd grew its holdings in shares of Halliburton by 29.7% during the 2nd quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company’s stock worth $22,050,000 after purchasing an additional 248,015 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Halliburton by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company’s stock worth $4,047,000 after purchasing an additional 40,109 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Company Profile

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.