Traders Buy Shares of Halliburton Company (HAL) on Weakness
Traders purchased shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Monday. $71.54 million flowed into the stock on the tick-up and $42.24 million flowed out of the stock on the tick-down, for a money net flow of $29.30 million into the stock. Of all companies tracked, Halliburton had the 12th highest net in-flow for the day. Halliburton traded down ($0.50) for the day and closed at $45.53
HAL has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price objective on shares of Halliburton in a report on Thursday, July 20th. Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $50.00 in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Halliburton in a research note on Saturday, July 22nd. Finally, ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-nine have given 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 a consensus price target of $58.61.
The company has a 50 day moving average price of $41.41 and a 200-day moving average price of $44.32. The company’s market cap is $39.16 billion.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share. Equities analysts anticipate that Halliburton Company will post $1.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is -423.50%.
In other news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BB&T Securities LLC grew its stake in Halliburton by 25.3% in the second quarter. BB&T Securities LLC now owns 56,135 shares of the oilfield services company’s stock valued at $2,397,000 after purchasing an additional 11,334 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Halliburton by 16.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,885 shares of the oilfield services company’s stock valued at $1,063,000 after buying an additional 3,510 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Halliburton during the second quarter valued at about $2,388,000. Airain ltd lifted its position in shares of Halliburton by 31.8% during the second quarter. Airain ltd now owns 491,492 shares of the oilfield services company’s stock valued at $20,992,000 after buying an additional 118,512 shares during the last quarter. Finally, Marietta Investment Partners LLC lifted its position in shares of Halliburton by 84.4% during the first quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock valued at $1,473,000 after buying an additional 13,693 shares during the last quarter. Hedge funds and other institutional investors own 79.51% of the company’s stock.
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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