Analysts Offer Insights on Materials Companies: Halliburton (NYSE: HAL) and Dril-Quip (NYSE: DRQ)

By Ryan Adsit

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Halliburton (NYSE: HAL) and Dril-Quip (NYSE: DRQ).

Halliburton (NYSE: HAL)

Scotiabank analyst Bill Sanchez maintained a Buy rating on Halliburton (NYSE: HAL) on June 27 and set a price target of $59. The company’s shares closed yesterday at $42.01, close to its 52-week high of $58.78.

According to TipRanks.com, Sanchez is ranked 0 out of 5 stars with an average return of -20.6% and a 6.1% success rate. Sanchez covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Oil States International.

Currently, the analyst consensus on Halliburton is Strong Buy and the average price target is $58.89, representing a 40.2% upside.

In a report issued on June 21, Barclays also maintained a Buy rating on the stock with a $50 price target.
Dril-Quip (NYSE: DRQ)

Scotiabank analyst Blake Hutchinson maintained a Hold rating on Dril-Quip (NYSE: DRQ) yesterday and set a price target of $61. The company’s shares closed yesterday at $48.35, close to its 52-week high of $69.40.

According to TipRanks.com, Hutchinson is ranked 0 out of 5 stars with an average return of -19.8% and a 12.2% success rate. Hutchinson covers the Basic Materials sector, focusing on stocks such as Oceaneering International, Oil States International, and Mcdermott International.

Dril-Quip has an analyst consensus of Hold, with a price target consensus of $59.

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