After Edward Jones and Citigroup gave Halliburton (NYSE: HAL) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Judson Bailey maintained a Buy rating on Halliburton yesterday. The company’s shares closed yesterday at $41.71.
According to TipRanks.com, Bailey is a 3-star analyst with an average return of 6.7% and a 41.8% success rate. Bailey covers the Basic Materials sector, focusing on stocks such as Oceaneering International, C&J Energy Services Inc, and National-Oilwell.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Halliburton with a $52.71 average price target, implying a 26.4% upside from current levels. In a report issued on September 18, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $50 price target.
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The company has a one-year high of $57.86 and a one-year low of $35.75. Currently, Halliburton has an average volume of 8.65M.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HAL in relation to earlier this year. Most recently, in August 2018, Robert A. Malone, a Director at HAL bought 8,053 shares for a total of $338,709.
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Halliburton Co. engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the following segments: Completion & Production, and Drilling & Evaluation business segments.
