Market Analysts see Halliburton Company [HAL] gaining to $52. Time to buy?

Halliburton Company [NYSE: HAL] traded at a low on 10/28/22, posting a -0.88 loss after which it closed the day’ session at $35.95. The company report on October 31, 2022 that Halliburton Introduces Innovative Technologies, Sustainable Solutions at ADIPEC.

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Halliburton Chairman, President and CEO Jeff Miller Participates in Nov. 1 Strategic Panel.

Halliburton Company (NYSE: HAL) today announced new products that highlight innovative technologies and sustainable solutions as part of its presence at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). In addition, Halliburton Chairman, President, and CEO Jeff Miller will participate Tuesday, Nov. 1 at 1:45 p.m. on the strategic panel, “Reconciling upstream oil and gas investment and the energy transition to meet global energy demand growth.” Miller will discuss how the industry addresses its commitment to decarbonization and the energy transition while ensuring the worldwide economy has the fuel it needs to continue to grow.

The results of the trading session contributed to over 10723922 shares changing hands. Over the past one week, the price volatility of Halliburton Company stands at 4.41% while the volatility over the past one month is 4.84%.

The market cap for HAL stock reached $32.93 billion, with 908.00 million shares outstanding and 904.25 million shares in the current float. Compared to the average trading volume of 10.63M shares, HAL reached a trading volume of 10723922 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Halliburton Company [HAL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HAL shares is $43.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HAL stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Halliburton Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 26, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 19, 2022, representing the official price target for Halliburton Company stock. Previously, the target price had yet another raise to $36, while Piper Sandler analysts kept a Overweight rating on HAL stock. On April 27, 2022, analysts increased their price target for HAL shares from 36.60 to 41.60.

The Average True Range (ATR) for Halliburton Company is set at 1.57, with the Price to Sales ratio for HAL stock in the period of the last 12 months amounting to 1.73. The Price to Book ratio for the last quarter was 4.28, with the Price to Cash per share for the same quarter was set at 2.16. Price to Free Cash Flow for HAL in the course of the last twelve months was 78.98 with Quick ratio for the last quarter at 1.50.

How has HAL stock performed recently?

Halliburton Company [HAL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.11. With this latest performance, HAL shares gained by 45.90% in over the last four-week period, additionally plugging by 0.93% over the last 6 months – not to mention a rise of 40.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HAL stock in for the last two-week period is set at 71.11, with the RSI for the last a single of trading hit 75.99, and the three-weeks RSI is set at 66.50 for Halliburton Company [HAL]. The present Moving Average for the last 50 days of trading for this stock 29.69, while it was recorded at 35.65 for the last single week of trading, and 32.85 for the last 200 days.

Halliburton Company [HAL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Halliburton Company [HAL] shares currently have an operating margin of +11.85 and a Gross Margin at +13.18. Halliburton Company’s Net Margin is presently recorded at +9.53.

Return on Equity for this stock inclined to 24.93, with Return on Assets sitting at 6.78.

Halliburton Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.10.

Earnings analysis for Halliburton Company [HAL]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HAL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Halliburton Company go to 52.95%.

Insider trade positions for Halliburton Company [HAL]

There are presently around $27,110 million, or 84.30% of HAL stock, in the hands of institutional investors. The top three institutional holders of HAL stocks are: VANGUARD GROUP INC with ownership of 99,746,446, which is approximately 0.039% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 82,983,953 shares of the stock with an approximate value of $2.98 billion in HAL stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.28 billion in HAL stock with ownership of nearly 2.842% of the company’s market capitalization.

Positions in Halliburton Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 443 institutional holders increased their position in Halliburton Company [NYSE:HAL] by around 81,401,313 shares. Additionally, 369 investors decreased positions by around 48,314,658 shares, while 134 investors held positions by with 624,379,994 shares. The mentioned changes placed institutional holdings at 754,095,965 shares, according to the latest SEC report filing. HAL stock had 98 new institutional investments in for a total of 8,221,545 shares, while 117 institutional investors sold positions of 8,570,923 shares during the same period.


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