Sanford C. Bernstein Reaffirms “Outperform” Rating for Halliburton Company (HAL)
Sanford C. Bernstein reiterated their outperform rating on shares of Halliburton Company (NYSE:HAL) in a research report sent to investors on Wednesday morning. Sanford C. Bernstein currently has a $53.00 target price on the oilfield services company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $65.00 price objective on shares of Halliburton and gave the company a buy rating in a research note on Saturday, June 24th. Credit Suisse Group reaffirmed an outperform rating and issued a $55.00 price objective (down previously from $60.00) on shares of Halliburton in a research note on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a sell rating to a hold rating in a research note on Saturday, July 22nd. Zacks Investment Research cut shares of Halliburton from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $60.00 price objective (down previously from $67.00) on shares of Halliburton in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $58.74.
Shares of Halliburton (HAL) opened at 40.29 on Wednesday. Halliburton has a 12 month low of $38.18 and a 12 month high of $58.78. The firm’s market cap is $35.12 billion. The firm has a 50-day moving average of $40.63 and a 200-day moving average of $45.49.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, analysts anticipate that Halliburton will post $1.12 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s payout ratio is presently -423.50%.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of HAL. BlackRock Inc. boosted its holdings in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after buying an additional 8,105,286 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Halliburton by 35.1% in the second quarter. Franklin Resources Inc. now owns 14,813,901 shares of the oilfield services company’s stock worth $632,678,000 after buying an additional 3,844,946 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Halliburton by 7,314.7% in the second quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after buying an additional 3,700,084 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Halliburton by 3,294.9% in the second quarter. Janus Henderson Group PLC now owns 3,784,359 shares of the oilfield services company’s stock worth $161,631,000 after buying an additional 3,672,887 shares during the last quarter. 79.53% of the stock is currently owned by institutional investors.
Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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