Halliburton’s (HAL) Buy Rating Reaffirmed at Benchmark

Halliburton (NYSE:HAL)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research note issued to investors on Friday,Benzinga reports. They presently have a $40.00 price objective on the oilfield services company’s stock. Benchmark’s target price indicates a potential upside of 35.36% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Barclays decreased their price target on Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Piper Sandler dropped their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America dropped their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, TD Cowen reduced their price target on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $41.63.

Halliburton Trading Down 3.1 %

NYSE:HAL opened at $29.55 on Friday. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The firm’s fifty day moving average is $29.17 and its 200-day moving average is $32.62. The firm has a market cap of $26.09 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.85 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Hedge Funds Weigh In On Halliburton

Hedge funds and other institutional investors have recently modified their holdings of the business. Caprock Group LLC lifted its holdings in Halliburton by 7.6% during the third quarter. Caprock Group LLC now owns 67,765 shares of the oilfield services company’s stock worth $1,969,000 after acquiring an additional 4,807 shares during the period. Pathstone Holdings LLC raised its stake in shares of Halliburton by 6.7% during the 3rd quarter. Pathstone Holdings LLC now owns 144,675 shares of the oilfield services company’s stock worth $4,203,000 after purchasing an additional 9,118 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Halliburton by 8.2% in the 3rd quarter. Meeder Advisory Services Inc. now owns 24,504 shares of the oilfield services company’s stock worth $712,000 after buying an additional 1,848 shares during the last quarter. Quest Partners LLC grew its position in Halliburton by 2,418.9% during the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after buying an additional 75,275 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Halliburton by 22.0% during the third quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock valued at $160,367,000 after buying an additional 995,649 shares during the period. Hedge funds and other institutional investors 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.