In a report released today, Stephen Gengaro from Stifel Nicolaus maintained a Buy rating on Halliburton (HAL), with a price target of $8.00. The company’s shares closed last Wednesday at $6.32, close to its 52-week low of $4.25.
According to TipRanks.com, Gengaro has currently no stars on a ranking scale of 0-5 stars, with an average return of -22.1% and a 27.3% success rate. Gengaro covers the Basic Materials sector, focusing on stocks such as Solaris Oilfield Infrastructure, Oil States International, and Superior Energy Services.
Currently, the analyst consensus on Halliburton is a Moderate Buy with an average price target of $13.04, a 97.3% upside from current levels. In a report issued on March 27, RBC Capital also maintained a Buy rating on the stock with a $12.00 price target.
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Based on Halliburton’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.19 billion and GAAP net loss of $1.65 billion. In comparison, last year the company earned revenue of $5.94 billion and had a net profit of $664 million.
Based on the recent corporate insider activity of 51 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.
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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 and Production, and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and wellbore placement solutions that enable customers to model, measure, and optimize their well construction activities. The company was founded by Erle P. Halliburton in 1919 and is headquartered in Houston, TX.
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