Halliburton (HAL) Stock Rating Reaffirmed by Bank of America

Halliburton (NYSE:HAL)‘s stock had its “buy” rating reissued by research analysts at Bank of America in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $48.00 target price on the oilfield services company’s stock, down from their prior target price of $52.00. Bank of America’s target price points to a potential upside of 46.97% from the stock’s current price.

A number of other brokerages have also weighed in on HAL. Stifel Nicolaus started coverage on shares of Halliburton in a research note on Monday, September 10th. They issued a “buy” rating and a $45.00 price target for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a research note on Friday, September 7th. Credit Suisse Group set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. set a $60.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, Barclays set a $52.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $51.24.

Halliburton stock opened at $32.66 on Monday. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 1.16. The stock has a market cap of $27.53 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 0.85 and a beta of 1.06. Halliburton has a 52-week low of $30.47 and a 52-week high of $57.86.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. Halliburton’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. Equities analysts forecast that Halliburton will post 1.86 EPS for the current fiscal year.

In other Halliburton news, insider James S. Brown sold 15,989 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Anne L. Beaty sold 1,210 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $43,838.30. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Partners LTD. acquired a new position in Halliburton during the 3rd quarter valued at $249,000. Avestar Capital LLC raised its stake in Halliburton by 1,159.6% during the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after purchasing an additional 2,180 shares during the last quarter. Sun Life Financial INC raised its stake in Halliburton by 1,170.1% during the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after purchasing an additional 2,188 shares during the last quarter. Honkamp Krueger Financial Services Inc. acquired a new position in Halliburton during the 3rd quarter valued at $103,000. Finally, Whitener Capital Management Inc. acquired a new position in Halliburton during the 3rd quarter valued at $106,000. 78.29% of the stock is owned by institutional investors and hedge funds.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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