Market Analysts see Halliburton Co. [HAL] gaining to $51. Time to buy?

Halliburton Co. [NYSE: HAL] traded at a high on Tuesday, posting a 0.14 gain after which it closed the day’ session at $34.96. The company report on February 6, 2024 at 4:15 PM that Nabors Announces Fourth Quarter 2023 Results.

Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported fourth quarter 2023 operating revenues of $726 million, compared to operating revenues of $734 million in the third quarter. The net loss attributable to Nabors shareholders for the quarter was $17 million, compared to a net loss of $49 million in the third quarter. This equates to a loss of $2.70 per diluted share, compared to a loss per diluted share of $6.26 in the third quarter. The fourth quarter results included a gain, related to mark-to-market treatment of Nabors warrants, of $10 million, or $1.14 per diluted share, compared to a charge of $8 million, or $0.86 per diluted share, in the third quarter. Fourth quarter adjusted EBITDA was $230 million, compared to $210 million in the previous quarter.

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Full-year 2023 operating revenues were $3.0 billion, compared to $2.7 billion in the prior year. This 13% overall increase was driven by growth in all company segments. Nabors Drilling Solutions and Rig Technologies both expanded by 24%. U.S. Drilling revenue increased by 10%, while International Drilling was 12% higher than in 2022.

The results of the trading session contributed to over 5953239 shares changing hands. Over the past one week, the price volatility of Halliburton Co. stands at 2.09% while the volatility over the past one month is 2.42%.

The market cap for HAL stock reached $31.12 billion, with 889.00 million shares outstanding and 886.63 million shares in the current float. Compared to the average trading volume of 7.63M shares, HAL reached a trading volume of 5953239 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 Co. [HAL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HAL shares is $47.18 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 1.31. 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.

TD Cowen have made an estimate for Halliburton Co. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 24, 2024. While these analysts kept the previous recommendation, CapitalOne raised their target price to Overweight. The new note on the price target was released on June 07, 2023, representing the official price target for Halliburton Co. stock. Previously, the target price had yet another raise to $49, while UBS analysts kept a Buy rating on HAL stock.

The Average True Range (ATR) for Halliburton Co. is set at 0.84, with the Price to Sales ratio for HAL stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 3.31, with the Price to Cash per share for the same quarter was set at 2.54. Price to Free Cash Flow for HAL in the course of the last twelve months was 14.97 with Quick ratio for the last quarter at 1.48.

How has HAL stock performed recently?

Halliburton Co. [HAL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.48. With this latest performance, HAL shares dropped by -6.85% in over the last four-week period, additionally sinking by -8.36% over the last 6 months – not to mention a drop of -5.49% 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 47.66, with the RSI for the last a single of trading hit 47.80, and the three-weeks RSI is set at 47.10 for Halliburton Co. [HAL]. The present Moving Average for the last 50 days of trading for this stock 35.40, while it was recorded at 35.10 for the last single week of trading, and 36.72 for the last 200 days.

Halliburton Co. [HAL]: Deeper insight into the fundamentals

Halliburton Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.48 and a Current Ratio set at 2.06.

Earnings analysis for Halliburton Co. [HAL]

With the latest financial reports released by the company, Halliburton Co. posted 0.72/share EPS, while the average EPS was predicted by analysts to be reported at 0.67/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.50%. 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 Co. go to 14.60%.

Insider trade positions for Halliburton Co. [HAL]

The top three institutional holders of HAL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HAL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HAL stock with ownership which is approximately 5.8325%.