Halliburton Is Trading at Half of the Mean Target Price


Mar. 1 2019, Updated 2:50 p.m. ET

Halliburton’s target price

Similar to Schlumberger (SLB), which we discussed in the previous part, Halliburton (HAL) is also trading at half of the analysts’ mean target price a year ago. In February 2018, analysts’ mean target price for Halliburton was $63.6. Currently, the stock is trading at $31.8. Halliburton has fallen 33% in a year.

As the above graph shows, Halliburton’s mean target price has fallen to $39.3 from $63.6 a year ago. More analysts rate Halliburton as a “strong buy” than a year ago. More analysts rate Halliburton as a “buy” or “strong buy” than six months ago.

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Analysts’ recommendations 

Among the 33 Reuters-surveyed analysts covering Halliburton, 12 recommended a “strong buy,” 18 recommended a “buy,” and three recommended a “hold.” The mean target price for Halliburton is $39.3, which implies an upside potential of ~24% from its current price.

Like Schlumberger, softness in the completions activity in North America impacted Halliburton. The company expects softness to impact its performance in the first quarter as well. To learn more, read Analyzing Halliburton’s Q4 Earnings. Halliburton forms 15.1% of the VanEck Vectors Oil Services ETF (OIH).

The ten largest institutional investors in Halliburton added 31.8 million of its shares to their positions in the fourth quarter.

Next, we’ll discuss analysts’ recommendations for Baker Hughes (BHGE).


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