Halliburton Co. (HAL) Upgraded to “Buy” by Societe Generale
Halliburton Co. (NYSE:HAL) was upgraded by Societe Generale from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Several other analysts have also weighed in on the stock. Loop Capital assumed coverage on shares of Halliburton in a research note on Friday. They issued a “buy” rating for the company. Vetr upgraded shares of Halliburton from a “hold” rating to a “buy” rating and set a $42.96 price objective for the company in a research note on Tuesday, September 27th. Guggenheim reiterated a “sell” rating on shares of Halliburton in a research note on Wednesday, August 31st. Jefferies Group reiterated a “buy” rating on shares of Halliburton in a research note on Tuesday, August 30th. Finally, Atlantic Securities assumed coverage on shares of Halliburton in a research note on Monday, August 8th. They issued an “underweight” rating and a $38.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Halliburton has a consensus rating of “Buy” and a consensus target price of $46.65.
Shares of Halliburton (NYSE:HAL) opened at 44.88 on Monday. The firm has a 50-day moving average of $43.37 and a 200-day moving average of $41.81. Halliburton has a 52 week low of $27.64 and a 52 week high of $46.90. The firm’s market cap is $38.65 billion.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. Halliburton’s revenue for the quarter was down 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. On average, analysts expect that Halliburton will post ($0.18) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 2nd. Halliburton’s payout ratio is -10.86%.
Hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC raised its stake in shares of Halliburton by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 2,864 shares of the oilfield services company’s stock worth $130,000 after buying an additional 69 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Halliburton during the second quarter worth approximately $1,571,000. Kentucky Retirement Systems acquired a new stake in shares of Halliburton during the second quarter worth approximately $3,309,000. Mason Street Advisors LLC acquired a new stake in shares of Halliburton during the second quarter worth approximately $5,242,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Halliburton during the second quarter worth approximately $210,000. 79.64% of the stock is owned by institutional investors.
Halliburton Company Profile
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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