Vetr Inc. Lowers Halliburton Co. (HAL) to Hold
Halliburton Co. (NYSE:HAL) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They presently have a $46.86 target price on the oilfield services company’s stock. Vetr‘s price target points to a potential upside of 2.49% from the stock’s current price.
HAL has been the subject of several other reports. Societe Generale cut shares of Halliburton from a “buy” rating to a “hold” rating and raised their price objective for the stock from $46.00 to $50.00 in a research report on Monday, July 18th. Howard Weil raised their price objective on shares of Halliburton from $37.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 15th. Nomura restated a “buy” rating and set a $53.00 price objective on shares of Halliburton in a research report on Thursday, July 21st. Simmons raised their price objective on shares of Halliburton from $48.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $46.00 price objective on shares of Halliburton in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.89.
Shares of Halliburton (NYSE:HAL) opened at 45.72 on Thursday. 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 of $43.44 and a 200 day moving average of $42.06. The company’s market cap is $39.37 billion.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The firm earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the business earned $0.44 earnings per share. Halliburton’s revenue was down 35.2% compared to the same quarter last year. Analysts forecast that Halliburton will post ($0.18) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, September 2nd. Halliburton’s dividend payout ratio is currently -10.86%.
Several hedge funds and other institutional investors have recently bought and sold shares of HAL. Los Angeles Capital Management & Equity Research Inc. increased its position in Halliburton by 46.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,002 shares of the oilfield services company’s stock worth $572,000 after buying an additional 5,110 shares in the last quarter. Ngam Advisors L.P. increased its position in Halliburton by 4.3% in the first quarter. Ngam Advisors L.P. now owns 130,490 shares of the oilfield services company’s stock worth $4,661,000 after buying an additional 5,410 shares in the last quarter. Teachers Advisors Inc. increased its position in Halliburton by 8.9% in the first quarter. Teachers Advisors Inc. now owns 1,065,141 shares of the oilfield services company’s stock worth $38,047,000 after buying an additional 87,222 shares in the last quarter. Prudential Financial Inc. increased its position in Halliburton by 2.7% in the first quarter. Prudential Financial Inc. now owns 1,103,288 shares of the oilfield services company’s stock worth $39,409,000 after buying an additional 28,830 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Halliburton during the first quarter worth approximately $11,397,000. 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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