Vetr Inc. Downgrades Halliburton Co. (HAL) to Hold
Halliburton Co. (NYSE:HAL) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They currently have a $46.86 price objective on the oilfield services company’s stock. Vetr‘s price target indicates a potential upside of 1.30% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Loop Capital initiated coverage on Halliburton in a research report on Friday, September 30th. They set a “buy” rating for the company. Guggenheim reissued a “sell” rating on shares of Halliburton in a research report on Wednesday, August 31st. KeyCorp reissued an “overweight” rating and set a $54.00 price objective (up previously from $45.00) on shares of Halliburton in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Halliburton in a research report on Tuesday, July 5th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Halliburton in a research report on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.89.
Shares of Halliburton (NYSE:HAL) traded down 0.24% on Thursday, reaching $46.26. The company had a trading volume of 7,014,466 shares. The company’s market capitalization is $39.83 billion. Halliburton has a 12 month low of $27.64 and a 12 month high of $46.90. The stock has a 50 day moving average price of $43.47 and a 200-day moving average price of $42.16.
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Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The business earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. Halliburton’s revenue was down 35.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Analysts forecast that Halliburton will post ($0.18) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
A number of institutional investors have recently added to or reduced their stakes in HAL. Manchester Capital Management LLC boosted its position in Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares during the period. Point View Wealth Management Inc. boosted its position in Halliburton by 0.6% in the second quarter. Point View Wealth Management Inc. now owns 6,254 shares of the oilfield services company’s stock worth $283,000 after buying an additional 39 shares during the period. Advisory Services Network LLC boosted its position in Halliburton by 0.4% in the third quarter. Advisory Services Network LLC now owns 11,662 shares of the oilfield services company’s stock worth $523,000 after buying an additional 46 shares during the period. Pitcairn Co. boosted its position in Halliburton by 0.7% in the second quarter. Pitcairn Co. now owns 7,694 shares of the oilfield services company’s stock worth $349,000 after buying an additional 54 shares during the period. Finally, Alpha Windward LLC boosted its position in Halliburton by 1.6% in the second quarter. Alpha Windward LLC now owns 3,609 shares of the oilfield services company’s stock worth $163,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
To view Vetr’s full report, visit Vetr’s official website.
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