FBR & Co Equities Analysts Decrease Earnings Estimates for Halliburton Co. (HAL)
Halliburton Co. (NYSE:HAL) – Analysts at FBR & Co decreased their Q3 2017 earnings estimates for shares of Halliburton in a research note issued on Friday. FBR & Co analyst T. Curran now forecasts that the brokerage will post earnings per share of $0.30 for the quarter, down from their prior forecast of $0.32. FBR & Co currently has a “Outperform” rating and a $58.00 target price on the stock. FBR & Co also issued estimates for Halliburton’s Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.70 EPS.
Several other research analysts also recently weighed in on HAL. Jefferies Group reaffirmed a “buy” rating and issued a $56.00 target price (up previously from $47.00) on shares of Halliburton in a report on Monday, July 11th. Seaport Global Securities reissued a “buy” rating on shares of Halliburton in a report on Thursday, July 21st. Johnson Rice reissued an “accumulate” rating on shares of Halliburton in a report on Monday, July 25th. Nomura reissued a “buy” rating and set a $53.00 price objective on shares of Halliburton in a report on Thursday, July 21st. Finally, Zacks Investment Research downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $47.30.
Halliburton (NYSE:HAL) traded up 0.745% during midday trading on Monday, reaching $46.665. The company had a trading volume of 970,918 shares. The firm has a 50-day moving average price of $43.78 and a 200-day moving average price of $42.70. The company’s market capitalization is $40.18 billion. Halliburton has a 52 week low of $27.64 and a 52 week high of $47.96.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The firm earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was down 35.2% on a year-over-year basis.
In other news, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $47.00, for a total transaction of $1,336,633.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Halliburton by 74.6% in the second quarter. Jennison Associates LLC now owns 10,985,623 shares of the oilfield services company’s stock worth $497,539,000 after buying an additional 4,695,475 shares in the last quarter. FMR LLC boosted its stake in Halliburton by 40.1% in the second quarter. FMR LLC now owns 13,373,769 shares of the oilfield services company’s stock worth $605,699,000 after buying an additional 3,829,088 shares in the last quarter. Capital World Investors boosted its stake 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 worth $1,315,932,000 after buying an additional 3,440,198 shares in the last quarter. Bank of Montreal Can bought a new stake in Halliburton during the second quarter worth approximately $126,987,000. Finally, Schroder Investment Management Group boosted its stake in Halliburton by 497.8% in the second quarter. Schroder Investment Management Group now owns 2,473,431 shares of the oilfield services company’s stock worth $112,022,000 after buying an additional 2,059,670 shares in the last quarter. 79.74% 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.
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