Morgan Stanley started coverage on shares of Halliburton (NYSE:HAL) in a research note issued to investors on Tuesday, September 18th, MarketBeat reports. The firm set an “overweight” rating and a $50.00 price target on the oilfield services company’s stock. Morgan Stanley’s price objective suggests a potential upside of 26.26% from the company’s previous close.

HAL has been the subject of a number of other research reports. B. Riley set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Halliburton from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, June 26th. Raymond James decreased their price target on shares of Halliburton from $59.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Tuesday, September 11th. Credit Suisse Group set a $52.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Monday, September 17th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.56.

Halliburton stock traded down $0.15 during midday trading on Tuesday, hitting $39.60. 7,750,654 shares of the stock were exchanged, compared to its average volume of 8,868,158. Halliburton has a fifty-two week low of $35.75 and a fifty-two week high of $57.86. The stock has a market cap of $35.66 billion, a P/E ratio of 32.46, a PEG ratio of 2.54 and a beta of 1.01. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 1.18.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Halliburton had a net margin of 0.42% and a return on equity of 19.48%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. Halliburton’s revenue was up 24.0% on a year-over-year basis. As a group, analysts forecast that Halliburton will post 1.99 EPS for the current year.

In other Halliburton news, Director Murry Gerber acquired 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were acquired at an average cost of $40.66 per share, for a total transaction of $235,828.00. Following the transaction, the director now directly owns 60,961 shares of the company’s stock, valued at $2,478,674.26. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James S. Brown sold 15,989 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.53, for a total transaction of $648,034.17. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC boosted its position in shares of Halliburton by 1,159.6% in the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after buying an additional 2,180 shares in the last quarter. Sun Life Financial INC boosted its position in shares of Halliburton by 1,170.1% in the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after buying an additional 2,188 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Halliburton in the 1st quarter worth about $129,000. Squar Milner Financial Services LLC purchased a new stake in shares of Halliburton in the 2nd quarter worth about $130,000. Finally, Banco de Sabadell S.A purchased a new position in Halliburton in the 2nd quarter valued at about $136,000. Institutional investors and hedge funds own 78.84% of the company’s stock.

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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