Jefferies Thinks Halliburton’s Stock is Going to Recover

By Ryan Adsit

Jefferies analyst Jason Gammel reiterated a Buy rating on Halliburton (NYSE: HAL) today and set a price target of $69. The company’s shares closed yesterday at $42.42, close to its 52-week high of $58.78.

According to, Gammel is a 3-star analyst with an average return of 3.3% and a 53.9% success rate. Gammel covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Amec Foster Wheeler plc.

Currently, the analyst consensus on Halliburton is Strong Buy and the average price target is $58.89, representing a 38.8% upside.

In a report issued on June 21, Barclays also maintained a Buy rating on the stock with a $50 price target.

Based on Halliburton’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $4.28 billion and GAAP net loss of $32 million. In comparison, last year the company earned revenue of $3.84 billion and had a GAAP net loss of $3.21 billion.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HAL in relation to earlier this year.

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Halliburton Co. engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production; and Drilling and Evaluation business segments.