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Are Analysts Changing Recommendations for Halliburton?

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Wall Street’s recommendations for Halliburton

In this article, we’ll look at changes in Wall Street analysts’ recommendations for Halliburton (HAL) on March 13, 2017.

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Analyst ratings for Halliburton

On March 13, 92% of the analysts tracking Halliburton rated it a “buy” or some equivalent. Approximately 5% of the analysts tracking HAL have recommended a “hold,” while the remaining 3% have rated it a “sell” or some equivalent. In comparison, approximately 58% of analysts tracking Baker Hughes (BHI) rated it a “buy” or some equivalent.

Analysts’ rating changes for HAL

From December 13, 2016, to March 13, 2017, the percentage of analysts recommending a “buy” or some equivalent for HAL has increased from 88% to 92%. Analysts’ “hold” and “sell” recommendations have fallen for HAL in the past four months. A year ago, ~78% of the sell-side analysts recommended a “buy” for HAL. Halliburton makes up 2.6% of the iShares North American Natural Resources ETF (IGE).

Analysts’ target prices for HAL and its peers

Wall Street analysts’ mean target price for HAL on March 13 was $64.20. HAL is currently trading at ~$51, implying a ~26% upside at its current median price. A month ago, analysts’ average target price for HAL was $63.50.

The mean target price among the sell-side analysts for the Oil States International (OIS) is $40.30. OIS is currently trading at ~$32, implying a ~26% upside at its average target price. The mean target price among sell-side analysts for Weatherford International (WFT) is ~$7.50. WFT is currently trading at ~$6.30, implying an ~18% upside at its mean target price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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