Halliburton (NYSE:HAL) Earns Buy Rating from Analysts at Dbs Bank

Investment analysts at Dbs Bank assumed coverage on shares of Halliburton (NYSE:HAL) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $45.00 price target on the oilfield services company’s stock. Dbs Bank’s price target suggests a potential upside of 52.39% from the stock’s current price.

HAL has been the topic of a number of other reports. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a report on Friday, July 19th. Stifel Nicolaus cut their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Barclays cut their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley cut their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Citigroup lowered their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Halliburton Stock Performance

NYSE HAL opened at $29.53 on Wednesday. The business’s 50-day moving average price is $31.57 and its 200 day moving average price is $34.88. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The company has a market capitalization of $26.14 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts predict that Halliburton will post 3.14 earnings per share for the current year.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HAL. Rise Advisors LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $26,000. IAG Wealth Partners LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $33,000. Bruce G. Allen Investments LLC grew its position in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Halliburton by 286.2% in the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after acquiring an additional 890 shares in the last quarter. Institutional investors and hedge funds 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.