Halliburton Company Given Neutral Rating at Zacks (HAL)
Halliburton Company (NYSE:HAL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday. They currently have a $71.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 5.37% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on oilfield services behemoth Halliburton. 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. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie reiterated an “outperform” rating on shares of Halliburton Company in a research note on Wednesday, July 23rd. They now have a $78.00 price target on the stock, up previously from $72.00. Separately, analysts at Howard Weil raised their price target on shares of Halliburton Company from $75.00 to $80.00 in a research note on Tuesday, July 22nd. They now have a “sector outperform” rating on the stock. Finally, analysts at Argus raised their price target on shares of Halliburton Company from $79.00 to $84.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Halliburton Company has an average rating of “Buy” and a consensus price target of $77.10.
In other Halliburton Company news, EVP Lawrence J. Pope sold 3,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $67.76, for a total value of $203,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Halliburton Company (NYSE:HAL) traded up 0.40% on Friday, hitting $67.50. The stock had a trading volume of 3,452,698 shares. Halliburton Company has a one year low of $47.46 and a one year high of $74.33. The stock has a 50-day moving average of $69.76 and a 200-day moving average of $63.81. The company has a market cap of $57.411 billion and a P/E ratio of 20.10. Halliburton Company also was the recipient of unusually large options trading on Wednesday. Investors purchased 32,859 call options on the stock. This represents an increase of 248% compared to the average volume of 9,451 call options.
Halliburton Company (NYSE:HAL) last released its earnings data on Monday, July 21st. The company reported $0.91 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.91. The company had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Halliburton Company will post $4.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, August 29th.
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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