Wall Street’s Forecasts for Halliburton after 3Q17 Earnings



Wall Street’s forecasts for Halliburton

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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.


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