Dbs Bank Initiates Coverage on Halliburton (NYSE:HAL)

Research analysts at Dbs Bank initiated coverage on shares of Halliburton (NYSE:HAL) in a research report issued on Wednesday, Benzinga reports. The firm set a “buy” rating and a $45.00 price target on the oilfield services company’s stock. Dbs Bank’s target price would suggest a potential upside of 54.80% from the stock’s current price.

Several other brokerages have also recently commented on HAL. TD Cowen dropped their price target on Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group lowered their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research note on Monday, July 22nd. Finally, Barclays lowered their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Halliburton Price Performance

Shares of HAL traded down $0.23 during trading hours on Wednesday, hitting $29.07. 1,861,208 shares of the stock were exchanged, compared to its average volume of 7,577,219. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89. The stock’s 50-day moving average price is $31.73 and its two-hundred day moving average price is $34.96.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS 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 during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts expect that Halliburton will post 3.14 earnings per share for the current year.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its position in shares of Halliburton by 0.3% during the 1st quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock worth $4,806,431,000 after acquiring an additional 377,500 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Halliburton by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after acquiring an additional 2,618,740 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Halliburton by 46.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Sanders Capital LLC raised its position in shares of Halliburton by 3.4% during the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after acquiring an additional 782,093 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Halliburton by 17,317.6% during the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

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.