Wall Street’s forecasts for Halliburton
In this article, we’ll look at Wall Street’s forecasts for Halliburton (HAL) stock following its 3Q17 earnings release.
Analysts’ ratings for Halliburton
On October 23, the day Halliburton released its 3Q17 earnings, approximately 89% of analysts tracking Halliburton rated it a “buy” or some equivalent. Approximately 8% rated the company a “hold” or an equivalent. Only 3% of analysts recommended a “sell.” Halliburton is 3.4% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has fallen 5% since June 30 compared to a 1% fall in HAL’s stock price during the same period.
In comparison, approximately 58% of Wall Street analysts tracking TechnipFMC (FTI) rated it a “buy” or some equivalent on October 23 and approximately 33% have rated it a “hold.”
Analysts’ rating changes for HAL
From July 23 to October 23, 2017, the percentage of analysts recommending a “buy” or some equivalent for HAL has remained unchanged at 89%. Analysts’ “hold” recommendations also didn’t change during this period. A year ago, ~88% of sell-side analysts recommended a “buy” for HAL.
Analysts’ target prices for HAL and its peers
Wall Street analysts’ mean target price for Haliburton on October 23 was $53.4. HAL is currently trading at ~$42.2, implying a ~26% upside at its current price. Analysts’ average target price for HAL was $54.0 a month ago.
The mean target price surveyed among sell-side analysts for Key Energy Services (KEG) was $13 on October 23. KEG is currently trading at ~$9.7, implying nearly 44% potential returns at its current price. Sell-side analysts’ mean target price for TETRA Technologies (TTI) was $4.3 on October 23. TTI is currently trading at ~$2.6, implying nearly 63% upside at its current price.
Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.