Halliburton Company Given “Outperform” Rating at Credit Suisse (HAL)
Halliburton Company (NYSE:HAL)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse in a research note issued to investors on Monday. They currently have a $79.00 target price on the stock, up from their previous target price of $78.00. Credit Suisse’s price objective points to a potential upside of 12.47% from the company’s current price.
Shares of Halliburton Company (NYSE:HAL) traded down 0.21% during mid-day trading on Monday, hitting $70.09. The stock had a trading volume of 3,656,653 shares. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $70.62. The stock’s 50-day moving average is $65.1 and its 200-day moving average is $57.1. The company has a market cap of $59.192 billion and a P/E ratio of 22.48. Halliburton Company also saw a large decline in short interest in May. As of May 30th, there was short interest totalling 11,768,827 shares, a decline of 17.7% from the May 15th total of 14,298,141 shares. Based on an average daily trading volume, of 5,174,615 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.4% of the shares of the stock are sold short.
Halliburton Company (NYSE:HAL) last announced its earnings results on Monday, April 21st. The company reported $0.73 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.67 earnings per share. Halliburton Company’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Halliburton Company will post $3.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Stockholders 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 0.85%. The ex-dividend date is Monday, June 2nd.
Other equities research analysts have also recently issued reports about the stock. Analysts at Drexel Hamilton initiated coverage on shares of Halliburton Company in a research note on Friday. They set a “buy” rating and a $79.00 price target on the stock. Separately, analysts at Howard Weil raised their price target on shares of Halliburton Company from $73.00 to $75.00 in a research note on Wednesday, June 18th. They now have a “sector outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Halliburton Company in a research note on Thursday, June 12th. They now have a $70.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $72.62.
In other Halliburton Company news, CEO David J. Lesar sold 35,350 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $67.99, for a total transaction of $2,403,446.50. The sale was disclosed in a filing with the SEC, which is available at 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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