Q1 2017 Earnings Forecast for Halliburton Co. Issued By Seaport Global Securities (HAL)
Halliburton Co. (NYSE:HAL) – Seaport Global Securities increased their Q1 2017 earnings per share estimates for shares of Halliburton in a report issued on Wednesday. Seaport Global Securities analyst M. Brown now forecasts that the brokerage will post earnings of $0.06 per share for the quarter, up from their previous forecast of $0.05. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Halliburton’s Q2 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $0.94 EPS, Q1 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.83 EPS and FY2018 earnings at $3.01 EPS.
A number of other research analysts also recently issued reports on HAL. Jefferies Group reiterated a “buy” rating and set a $56.00 target price (up previously from $47.00) on shares of Halliburton in a research report on Monday, July 11th. Johnson Rice reiterated an “accumulate” rating on shares of Halliburton in a research report on Monday, July 25th. Zacks Investment Research downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Friday. Nomura reiterated a “buy” rating and set a $53.00 target price on shares of Halliburton in a research report on Thursday, July 21st. Finally, Deutsche Bank AG boosted their target price on shares of Halliburton from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Two investment 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 given a strong buy rating to the company. Halliburton has a consensus rating of “Buy” and a consensus target price of $47.30.
Shares of Halliburton (NYSE:HAL) opened at 46.97 on Thursday. The stock’s 50 day moving average is $43.73 and its 200-day moving average is $42.52. The firm’s market cap is $40.45 billion. Halliburton has a 1-year low of $27.64 and a 1-year high of $47.96.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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 company earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly revenue was down 35.2% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in shares of 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 in the last quarter. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. State Street Corp raised its position in shares of 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 in the last quarter. Capital World Investors raised its position in shares of 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 in the last quarter. Finally, Waddell & Reed Financial Inc. raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 79.64% of the company’s stock.
In related news, insider James S. Brown sold 28,439 shares of Halliburton stock in a transaction on Monday, October 10th. The shares were sold at an average price of $47.00, for a total value of $1,336,633.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
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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