Halliburton Co. (HAL) Stock Rating Reaffirmed by Bank of America Corp.
Halliburton Co. (NYSE:HAL)‘s stock had its “buy” rating reissued by research analysts at Bank of America Corp. in a research report issued on Friday.
A number of other analysts have also issued reports on the company. Loop Capital assumed coverage on Halliburton in a report on Friday, September 30th. They issued a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating and set a $58.00 target price (up previously from $50.00) on shares of Halliburton in a report on Sunday, October 23rd. Vetr lowered Halliburton from a “buy” rating to a “hold” rating and set a $42.96 target price for the company. in a report on Tuesday, September 6th. Guggenheim restated a “sell” rating on shares of Halliburton in a report on Wednesday, August 31st. Finally, Citigroup Inc. upped their target price on Halliburton from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and a consensus price target of $50.81.
Shares of Halliburton (NYSE:HAL) opened at 50.10 on Friday. The company’s market cap is $43.31 billion. Halliburton has a one year low of $27.64 and a one year high of $50.45. The company has a 50 day moving average price of $47.36 and a 200 day moving average price of $44.33.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. The firm earned $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. Halliburton had a positive return on equity of 1.82% and a negative net margin of 33.29%. Halliburton’s quarterly revenue was down 31.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities analysts predict that Halliburton will post ($0.05) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Wednesday, December 7th will be paid a $0.18 dividend. The ex-dividend date is Monday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Halliburton’s dividend payout ratio (DPR) is -10.98%.
In other Halliburton news, EVP Eric Carre sold 18,343 shares of the business’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $50.00, for a total value of $917,150.00. Following the completion of the transaction, the executive vice president now owns 169,994 shares in the company, valued at $8,499,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $47.00, for a total transaction of $1,336,633.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of HAL. Renaissance Technologies LLC acquired a new position in Halliburton during the first quarter valued at approximately $19,278,000. Nuveen Asset Management LLC boosted its stake in Halliburton by 2.3% in the first quarter. Nuveen Asset Management LLC now owns 66,487 shares of the oilfield services company’s stock valued at $2,375,000 after buying an additional 1,506 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Halliburton during the first quarter valued at about $403,000. Squarepoint Ops LLC boosted its stake in Halliburton by 230.3% in the first quarter. Squarepoint Ops LLC now owns 60,766 shares of the oilfield services company’s stock valued at $2,171,000 after buying an additional 42,366 shares during the period. Finally, Avalon Advisors LLC boosted its stake in Halliburton by 42.9% in the first quarter. Avalon Advisors LLC now owns 22,271 shares of the oilfield services company’s stock valued at $796,000 after buying an additional 6,681 shares during the period. Institutional investors and hedge funds own 80.34% of the company’s stock.
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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