Halliburton Co. (HAL) Price Target Raised to $57.00 at Citigroup Inc.
Halliburton Co. (NYSE:HAL) had its target price hoisted by Citigroup Inc. from $52.00 to $57.00 in a research note issued to investors on Tuesday morning. Citigroup Inc. currently has a buy rating on the oilfield services company’s stock.
Other equities analysts have also recently issued reports about the stock. Johnson Rice restated an accumulate rating on shares of Halliburton in a research report on Monday, July 25th. 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. Vetr cut shares of Halliburton from a strong-buy rating to a buy rating and set a $50.00 price objective for the company. in a research report on Wednesday, June 22nd. Jefferies Group restated a buy rating and set a $56.00 price objective (up from $47.00) on shares of Halliburton in a research report on Monday, July 11th. Finally, Deutsche Bank AG upped their price objective on shares of Halliburton from $49.00 to $50.00 and gave the stock a buy rating in a research report on Thursday, July 21st. Two equities 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. The stock presently has a consensus rating of Buy and a consensus target price of $47.17.
Halliburton (NYSE:HAL) traded up 0.30% during midday trading on Tuesday, hitting $46.78. 2,378,065 shares of the stock traded hands. Halliburton has a 52-week low of $27.64 and a 52-week high of $47.64. The stock has a 50-day moving average of $43.53 and a 200 day moving average of $42.37. The firm’s market cap is $40.28 billion.
Halliburton (NYSE:HAL) last posted its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the business posted $0.44 EPS. The business’s revenue was down 35.2% compared to the same quarter last year. Equities analysts forecast that Halliburton will post ($0.18) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
A number of institutional investors have recently added to or reduced their stakes in HAL. Capital Research Global Investors raised its position in Halliburton by 2.5% in the second quarter. Capital Research Global Investors now owns 57,462,943 shares of the oilfield services company’s stock valued at $2,602,497,000 after buying an additional 1,426,237 shares during the period. Vanguard Group Inc. raised its position in Halliburton by 2.0% in the second quarter. Vanguard Group Inc. now owns 53,056,563 shares of the oilfield services company’s stock valued at $2,402,932,000 after buying an additional 1,024,207 shares during the period. State Street Corp raised its position in Halliburton by 1.1% in the second quarter. State Street Corp now owns 40,360,728 shares of the oilfield services company’s stock valued at $1,827,936,000 after buying an additional 449,869 shares during the period. Capital World Investors raised its position in Halliburton by 13.4% in the second quarter. Capital World Investors now owns 29,055,680 shares of the oilfield services company’s stock valued at $1,315,932,000 after buying an additional 3,440,198 shares during the period. Finally, Waddell & Reed Financial Inc. raised its position in Halliburton by 11.9% in the second quarter. Waddell & Reed Financial Inc. now owns 18,587,275 shares of the oilfield services company’s stock valued at $841,818,000 after buying an additional 1,981,618 shares during the period. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
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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