Deutsche Bank Raises Halliburton Company Price Target to $66.00

Meanwhile, Schlumberger Limited. (NYSE:SLB), which is the biggest oilfield services company in the world, saw its revenue decline by 25% YoY to $9.01 billion.

Halliburton Company (NYSE:HAL) opened at 39.99 on Friday. Reported income from continuing operations was $55 million, or $0.06 per diluted share, in the second quarter of 2015, as compared to reported loss from continuing operations of $639 million, or $0.75 per diluted share, in the first quarter of 2015. Revenue fell 26.5% to $5.9 billion, above views for $5.78 billion. The standard deviation before the number was posted was $0.15. Analysts at Deutsche Bank raised their price target on shares of Halliburton Company from $54.00 to $66.00 and gave the company a “buy” rating in a research note on Saturday. The market cap for the company was $ 34.03 billion while the P-to-E ratio was 15.23. But including special items, profits came in at $54 million, or 6 cents per share, down from $774 million, or 91 cents a share last quarter. This represents a $0.72 annualized dividend and a dividend yield of 1.80%.

A number of research firms have recently commented on HAL.

In other Halliburton Company news, President Jeffrey Allen Miller sold 6,000 shares of Halliburton Company stock in a transaction that occurred on Tuesday, May 5th. The shares saw high fund-flow as the composite value of all the upticks was $103.61 million and the total value of all the downticks was a mere $77.18 million.

The analyst price targets on the stock range from $40 from the most bearish outlook to $83 from the most bullish analyst.

A recent analyst activity consisted of Oppenheimer reiterating their Outperform stance on July 10. Finally, analysts at Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Halliburton Company in a research note on Wednesday, June 3rd. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Halliburton Company shares have decreased -38.44% in the last 200 days, while the S&P 500 has added 7.41% during the same time period. The stock has a consensus rating of “Buy” and an average target price of $58.69.

The deal between the two companies is expected to close late in the second half of this year, according to Halliburton. It serves national, and independent oil and natural gas companies worldwide and operates in two segments: Completion and Production segment and Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services. The Company conducts business worldwide in approximately 80 countries. Effective June 13, 2014, Halliburton & Co acquired Neftex Petroleum Consultants Ltd, an Abingdon-based provider of geosciences consultancy services.