Dahlman Rose increased their price target on shares of Halliburton (NYSE: HAL)
The analysts wrote, ?Halliburton stock has had for several months one of the largest upsides of any of the 50 stocks in our oil service and drilling research team coverage. It has been one of our strongest Buy recommendations ? all it needed was a catalyst. That catalyst came with a meaningful beat to fourth quarter earnings, the statement that North American earnings have bottomed, and the prospect that international earnings will account for an increasing percentage of earnings. We are increasing our 2013 EPS estimate to $3.15 and increasing our price target to $50 per share from $47 (16x estimated 2013 earnings).? Several other analysts have also recently commented on the stock. Analysts at ISI Group reiterated a ?strong-buy? rating on shares of Halliburton in a research note to investors on Monday. They now have a $50.00 price target on the stock, up previously from $47.00. Separately, analysts at BMO Capital Markets raised their price target on shares of Halliburton to $52.00 in a research note to investors on Monday. Finally, analysts at Howard Weil raised their price target on shares of Halliburton from $44.00 to $47.00 in a research note to investors on Monday. They now have a ?sector perform? rating on the stock.
Twenty-two equities research analysts have rated the stock with a buy rating, three have assigned an overweight rating, and eight have given a hold rating to the company. The company currently has a consensus rating of ?overweight? and a consensus target price of $43.63.
Halliburton traded up 1.41% on Monday, hitting $40.28. Halliburton has a 52-week low of $26.28 and a 52-week high of $40.28. The stock?s 50-day moving average is currently $35.59. The company has a market cap of $37.380 billion and a price-to-earnings ratio of 13.98.
Halliburton last posted its quarterly earnings results on Friday, January 25th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company?s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Halliburton will post $2.97 earnings per share for the current fiscal year.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.