Halliburton Co. (HAL) Price Target Raised to $57.00 at Citigroup Inc.
Halliburton Co. (NYSE:HAL) had its price objective increased by research analysts at Citigroup Inc. from $52.00 to $57.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the oilfield services company’s stock. Citigroup Inc.’s price target indicates a potential upside of 20.61% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Johnson Rice reiterated an “accumulate” rating on shares of Halliburton in a report on Monday, July 25th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $46.00 price objective on shares of Halliburton in a report on Wednesday, June 15th. Vetr downgraded Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 price objective for the company. in a report on Wednesday, June 22nd. Jefferies Group reiterated a “buy” rating and issued a $56.00 price objective (up previously from $47.00) on shares of Halliburton in a report on Monday, July 11th. Finally, Deutsche Bank AG increased their price objective on Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $47.03.
Halliburton (NYSE:HAL) traded down 1.767% during midday trading on Tuesday, hitting $46.425. The stock had a trading volume of 6,367,478 shares. Halliburton has a 52 week low of $27.64 and a 52 week high of $47.64. The firm has a 50 day moving average of $43.48 and a 200 day moving average of $42.34. The firm’s market cap is $39.98 billion.
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Halliburton (NYSE:HAL) last posted its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The business earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The firm’s quarterly revenue was down 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that Halliburton will post ($0.18) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
A number of large investors have recently modified their holdings of the stock. AMP Capital Investors Ltd raised its stake in shares of Halliburton by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 250,079 shares of the oilfield services company’s stock worth $9,007,000 after buying an additional 11,116 shares during the period. Geode Capital Management LLC raised its stake in shares of Halliburton by 1.7% in the first quarter. Geode Capital Management LLC now owns 7,023,445 shares of the oilfield services company’s stock worth $250,374,000 after buying an additional 119,543 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Halliburton by 12.2% in the first quarter. Loomis Sayles & Co. L P now owns 2,031,603 shares of the oilfield services company’s stock worth $72,569,000 after buying an additional 221,524 shares during the period. BP Capital Fund Advisors LLC raised its stake in shares of Halliburton by 2.4% in the first quarter. BP Capital Fund Advisors LLC now owns 150,044 shares of the oilfield services company’s stock worth $5,360,000 after buying an additional 3,507 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Halliburton by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 4,140,660 shares of the oilfield services company’s stock worth $147,904,000 after buying an additional 328,881 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.
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.
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