Halliburton (HAL) PT Set at $40.00 by Morgan Stanley

Morgan Stanley set a $40.00 target price on Halliburton (NYSE:HAL) in a report published on Tuesday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

A number of other analysts have also commented on the company. Cowen raised Halliburton from a market perform rating to an outperform rating and cut their price target for the company from $45.00 to $35.00 in a research note on Thursday, January 17th. Wells Fargo & Co reissued a buy rating on shares of Halliburton in a research note on Sunday, January 6th. Goldman Sachs Group started coverage on Halliburton in a research note on Sunday, March 10th. They set a buy rating and a $42.00 price target on the stock. Barclays set a $38.00 price target on Halliburton and gave the company a buy rating in a research note on Wednesday, January 23rd. Finally, Raymond James set a $45.00 price objective on Halliburton and gave the stock a buy rating in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $44.71.

Shares of HAL stock traded down $0.82 during mid-day trading on Tuesday, reaching $28.40. 3,029,625 shares of the stock traded hands, compared to its average volume of 9,775,674. Halliburton has a 1-year low of $24.70 and a 1-year high of $54.91. The firm has a market capitalization of $27.19 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.67 and a beta of 1.17. The company has a current ratio of 2.22, a quick ratio of 1.69 and a debt-to-equity ratio of 1.07.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, April 22nd. The oilfield services company reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Halliburton will post 1.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.54%. The ex-dividend date was Tuesday, March 5th. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

In other Halliburton news, CFO Lance Loeffler sold 5,926 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.35, for a total value of $168,002.10. Following the transaction, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at $1,584,339.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. SevenBridge Financial Group LLC increased its holdings in shares of Halliburton by 387.5% during the fourth quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock valued at $26,000 after acquiring an additional 775 shares in the last quarter. Essex Savings Bank bought a new stake in Halliburton during the fourth quarter worth $27,000. Paragon Capital Management LLC bought a new stake in Halliburton during the first quarter worth $29,000. American Research & Management Co. bought a new stake in Halliburton during the first quarter worth $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in Halliburton during the first quarter worth $30,000. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Company Profile

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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