Halliburton Co. (HAL) stock forecast: Can it reach its 52-week high of $43.85

Halliburton Co. [HAL] stock is trading at $36.66, up 1.24%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The HAL shares have gain 4.21% over the last week, with a monthly amount glided 4.65%, and seem to be holding up well over a long-time horizon.

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On 28, February 2024, Halliburton Labs Appoints Pulakesh Mukherjee to Advisory Board. In a post published today on Yahoo Finance, Halliburton Labs has announced Pulakesh Mukherjee, Partner, Imperative Ventures has joined its advisory board. Mukherjee brings extensive experience in energy systems, innovation, and venture capital to support Halliburton Labs’ collaborative environment where entrepreneurs, academics, investors, and experienced practitioners advance the future of energy faster.

From an analyst’s perspective:

Halliburton Co. [NYSE: HAL] stock has seen the most recent analyst activity on January 24, 2024, when TD Cowen reiterated its Outperform rating and also boosted its price target to $51 from $49. Previously, CapitalOne started tracking the stock with Overweight rating on June 07, 2023, and set its price target to $41. On April 19, 2023, UBS initiated with a Buy rating and assigned a price target of $49 on the stock. The Benchmark Company started tracking the stock assigning a Buy rating and suggested a price target of $50 on January 19, 2023. Wolfe Research upgraded its rating to a Outperform but $51 remained the price target by the analyst firm on January 12, 2023. Raymond James started tracking with a Strong Buy rating for this stock on December 09, 2022, and assigned it a price target of $53. In a note dated October 26, 2022, Wells Fargo upgraded an Overweight rating on this stock but restated the target price of $52.

Halliburton Co. [HAL] stock has fluctuated between $27.84 and $43.85 over the past year. Currently, Wall Street analysts expect the stock to reach $37.16 within the next 12 months. Halliburton Co. [NYSE: HAL] shares were valued at $36.66 at the most recent close of the market. An investor can expect a potential return of 1.36% based on the average HAL price forecast.

Analyzing the HAL fundamentals

Halliburton Co. [NYSE:HAL] reported sales of 23.02B for the trailing twelve months, which represents a growth of 2.81%. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.18%, Pretax Profit Margin comes in at 0.15%, and Net Profit Margin reading is 0.11%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.3 and Total Capital is 0.21. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.94.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 35.93 points at the first support level, and at 35.20 for the second support level. However, for the 1st resistance point, the stock is sitting at 37.08, and for the 2nd resistance point, it is at 37.49.

Halliburton Co. [HAL] reported earnings per share of $0.86 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.8/share, meaning a difference of $0.06 and a surprise factor of 7.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.72 per share as compared to estimates of $0.7 per share, a difference of $0.02 representing a surprise of 2.90%.

Ratios To Look Out For

For context, Halliburton Co.’s Current Ratio is 2.06. Further, the Quick Ratio stands at 1.48, while the Cash Ratio is 0.4. Considering the valuation of this stock, the price to sales ratio is 1.42, the price to book ratio is 3.47 and price to earnings (TTM) ratio is 12.54.

Transactions by insiders

Recent insider trading involved Banks Margaret Katherine, Director, that happened on Mar 05 ’24 when 5000.0 shares were sold. Director, President & CEO, Miller Jeffrey Allen completed a deal on Mar 04 ’24 to sell 0.38 million shares. Meanwhile, EVP, Secretary and CLO Beckwith Van H. sold 5000.0 shares on Oct 20 ’23.

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