Seaport Global Securities Analysts Lift Earnings Estimates for Halliburton Co. (HAL)
Halliburton Co. (NYSE:HAL) – Equities researchers at Seaport Global Securities upped their Q3 2016 earnings per share estimates for shares of Halliburton in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Brown now anticipates that the brokerage will post earnings per share of ($0.05) for the quarter, up from their previous estimate of ($0.06). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Halliburton’s FY2016 earnings at ($0.16) EPS.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company’s quarterly revenue was down 35.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS.
Several other analysts have also issued reports on HAL. Simmons upped their price target on shares of Halliburton from $48.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, June 21st. KeyCorp restated an “overweight” rating and set a $54.00 price target (up from $45.00) on shares of Halliburton in a research report on Tuesday, June 21st. Vetr lowered shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 price target for the company. in a research report on Wednesday, June 22nd. Citigroup Inc. restated a “buy” rating on shares of Halliburton in a research report on Saturday, June 25th. Finally, Iberia Capital restated an “outperform” rating and set a $50.00 price target on shares of Halliburton in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.30.
Halliburton (NYSE:HAL) opened at 46.97 on Friday. Halliburton has a 1-year low of $27.64 and a 1-year high of $47.96. The firm’s 50-day moving average price is $43.73 and its 200-day moving average price is $42.52. The firm’s market cap is $40.45 billion.
In other Halliburton 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of HAL. Johnson Financial Group Inc. boosted its position in Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock worth $103,000 after buying an additional 772 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock worth $104,000 after buying an additional 379 shares in the last quarter. Manchester Capital Management LLC boosted its position in Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares in the last quarter. Citizens Financial Group Inc RI boosted its position in Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock worth $117,000 after buying an additional 648 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Halliburton during the second quarter worth approximately $120,000. 79.64% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Halliburton Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton Co. and related stocks with our FREE daily email newsletter.