Halliburton Co. (HAL) Receives New Coverage from Analysts at Loop Capital
Research analysts at Loop Capital started coverage on shares of Halliburton Co. (NYSE:HAL) in a research note issued on Friday. The firm set a “buy” rating on the oilfield services company’s stock.
A number of other research firms also recently commented on HAL. Vetr raised Halliburton from a “hold” rating to a “buy” rating and set a $42.96 price objective on the stock in a research note on Tuesday. Citigroup Inc. reaffirmed a “buy” rating on shares of Halliburton in a research report on Wednesday, August 3rd. Jefferies Group set a $56.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, July 20th. KeyCorp reaffirmed an “overweight” rating and set a $54.00 target price (up from $45.00) on shares of Halliburton in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Halliburton in a research report on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.65.
Halliburton (NYSE:HAL) opened at 44.18 on Friday. The stock’s market capitalization is $38.04 billion. Halliburton has a 12-month low of $27.64 and a 12-month high of $46.90. The stock has a 50 day moving average price of $43.35 and a 200-day moving average price of $41.75.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s quarterly revenue was down 35.2% compared to the same quarter last year. Equities research analysts expect that Halliburton will post ($0.18) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. Halliburton’s payout ratio is -10.86%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd increased its position in Halliburton by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 250,079 shares of the oilfield services company’s stock worth $9,007,000 after buying an additional 11,116 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Halliburton by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,076,706 shares of the oilfield services company’s stock worth $788,580,000 after buying an additional 225,805 shares during the period. BlackRock Group LTD increased its position in Halliburton by 1.4% in the first quarter. BlackRock Group LTD now owns 6,791,899 shares of the oilfield services company’s stock worth $242,605,000 after buying an additional 96,910 shares during the period. Institutional Capital LLC bought a new position in Halliburton during the first quarter worth $107,084,000. Finally, Franklin Resources Inc. increased its position in Halliburton by 38.2% in the first quarter. Franklin Resources Inc. now owns 27,932,069 shares of the oilfield services company’s stock worth $997,742,000 after buying an additional 7,714,584 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the 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.
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