After UBS and Loop Capital Markets assigned a Buy rating to Halliburton in the last month, the company received another Buy, this time from Societe Generale. Analyst Edward Muztafago upgraded Halliburton (NYSE: HAL) to Buy today. The company’s shares closed last Friday at $44.88, close to its 52-week high of $46.90.
According to TipRanks.com, Muztafago is a 3-star analyst with an average return of 1.8% and a 35.3% success rate. Muztafago covers the Basic Materials sector, focusing on stocks such as Oceaneering International, Fmc Technologies, and National-Oilwell.
Currently, the analyst consensus on Halliburton is Strong Buy and the average price target is $52.50, representing a 17.0% upside.
In a report issued on September 20, UBS also reiterated a Buy rating on the stock with a $55 price target.
Based on Halliburton`s latest earnings report from March 31, the company posted quarterly revenue of $4.2B and quarterly net profit of -$2.41B. In comparison, last year the company earned revenue of $5.58B and had a net profit of -$54M.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2015, Murry Gerber, a a Director at HAL bought 3,400 shares for a total of $133,620.
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. The company operates through the Completion and Production; and Drilling and Evaluation business segment. 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.