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Wells Fargo Keeps Their Hold Rating on Halliburton (HAL)

Wells Fargo analyst Roger Read maintained a Hold rating on Halliburton (HALResearch Report) today and set a price target of $40.00. The company’s shares closed last Wednesday at $38.52, close to its 52-week high of $39.38.

According to TipRanks.com, Read is a 5-star analyst with an average return of 12.5% and a 64.0% success rate. Read covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Marathon Petroleum, and Delek US Holdings.

Halliburton has an analyst consensus of Strong Buy, with a price target consensus of $35.15.

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Based on Halliburton’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.28 billion and net profit of $824 million. In comparison, last year the company earned revenue of $3.24 billion and had a GAAP net loss of $235 million.

Based on the recent corporate insider activity of 73 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.

Read More on HAL:

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