FBR & Co Comments on Halliburton Co.’s Q3 2017 Earnings (HAL)
Halliburton Co. (NYSE:HAL) – FBR & Co reduced their Q3 2017 earnings per share estimates for Halliburton in a note issued to investors on Friday. FBR & Co analyst T. Curran now anticipates that the firm will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.32. FBR & Co currently has a “Outperform” rating and a $58.00 target price on the stock. FBR & Co also issued estimates for Halliburton’s Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.70 EPS.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. Halliburton’s revenue was down 35.2% on a year-over-year basis.
Several other research firms have also issued reports on HAL. Vetr raised Halliburton from a “hold” rating to a “buy” rating and set a $42.96 target price for the company in a report on Tuesday, September 27th. Citigroup Inc. reissued a “buy” rating on shares of Halliburton in a report on Wednesday, August 3rd. Zacks Investment Research lowered Halliburton from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group set a $56.00 price objective on Halliburton and gave the company a “buy” rating in a report on Wednesday, July 20th. Finally, KeyCorp reissued an “overweight” rating and set a $54.00 price objective (up from $45.00) on shares of Halliburton in a report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.30.
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Halliburton (NYSE:HAL) opened at 46.97 on Monday. The stock’s 50 day moving average price is $43.73 and its 200-day moving average price is $42.52. Halliburton has a 12-month low of $27.64 and a 12-month high of $47.96. The firm’s market cap is $40.45 billion.
In other Halliburton news, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $47.00, for a total transaction of $1,336,633.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.
A number of large investors have recently made changes to their positions in HAL. Johnson Financial Group Inc. raised its stake in shares of Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock worth $103,000 after buying an additional 772 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock worth $104,000 after buying an additional 379 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of 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 in the last quarter. Citizens Financial Group Inc RI raised its stake in shares of Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock worth $117,000 after buying an additional 648 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Halliburton during the second quarter worth $120,000. Institutional investors and hedge funds own 79.74% 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.
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