Halliburton Company’s Neutral Rating Reaffirmed at Zacks (HAL)
Halliburton Company (NYSE:HAL)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Thursday. They currently have a $70.00 target price on the stock. Zacks‘s target price points to a potential upside of 5.04% from the company’s current price.
Zacks’ analyst wrote, “Following Halliburton’s strong first quarter results, we are maintaining our Neutral recommendation on the oilfield services behemoth. The company has been benefiting from higher activity in the international markets, which has more than made up for sluggish North American operations. In fact, Halliburton expects the strong demand trend in international markets to continue in the coming years. Halliburton’s inexpensive valuation and the favorable DOJ verdict over the company’s role in the Macondo oil spill lend additional support. Nevertheless, we are staying on the sidelines given the increased pricing pressure in its North American operations, oversupply in the pressure pumping business and a sharp run-up in its stock price. “
A number of other analysts have also recently weighed in on HAL. Analysts at Societe Generale downgraded shares of Halliburton Company from a “buy” rating to a “hold” rating in a research note on Thursday. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Halliburton Company in a research note on Thursday. They now have a $78.00 price target on the stock, up previously from $77.00. Finally, analysts at Macquarie initiated coverage on shares of Halliburton Company in a research note on Wednesday, June 4th. They set an “outperform” rating and a $72.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Halliburton Company has a consensus rating of “Buy” and a consensus price target of $70.12.
Shares of Halliburton Company (NYSE:HAL) traded down 0.45% during mid-day trading on Thursday, hitting $66.64. 9,660,889 shares of the company’s stock traded hands. Halliburton Company has a 52 week low of $40.12 and a 52 week high of $68.14. The stock has a 50-day moving average of $64.24 and a 200-day moving average of $56.4. The company has a market cap of $56.279 billion and a P/E ratio of 21.43. Halliburton Company also was the recipient of a large decrease in short interest in May. As of May 30th, there was short interest totalling 11,768,827 shares, a decrease of 17.7% from the May 15th total of 14,298,141 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average trading volume of 5,174,615 shares, the short-interest ratio is currently 2.3 days.
Halliburton Company (NYSE:HAL) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.01. The company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Halliburton Company will post $3.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, June 2nd.
In other Halliburton Company news, VP Albert O. Cornelison, Jr. sold 17,067 shares of Halliburton Company stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $66.92, for a total transaction of $1,142,123.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.
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