Halliburton (HAL) Received its Third Buy in a Row

By Ryan Adsit

After Goldman Sachs and Seaport Global gave Halliburton (NYSE: HAL) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst David Anderson maintained a Buy rating on Halliburton today and set a price target of $35. The company’s shares opened today at $31.06.

According to TipRanks.com, Anderson has 0 stars on 0-5 star ranking scale with an average return of -3.9% and a 42.0% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Covia Holdings Corporation, and Baker Hughes a GE company.

Halliburton has an analyst consensus of Strong Buy, with a price target consensus of $39.40, which is a 26.9% upside from current levels. In a report issued on April 1, Seaport Global also maintained a Buy rating on the stock with a $38 price target.

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Based on Halliburton’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.94 billion and net profit of $664 million. In comparison, last year the company earned revenue of $5.74 billion and had a net profit of $46 million.

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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 segments.