Halliburton Company (NYSE:HAL) Stock Rating Upgraded by Seaport Global Securities
Halliburton Company (NYSE:HAL) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.
Other research analysts also recently issued research reports about the stock. UBS AG reaffirmed a “buy” rating and issued a $70.00 target price on shares of Halliburton in a research report on Monday, May 15th. BidaskClub raised shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company reissued an “outperform” rating on shares of Halliburton in a research report on Monday, July 10th. BMO Capital Markets cut their target price on shares of Halliburton from $65.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, July 14th. Finally, Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, June 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.78.
Shares of Halliburton (HAL) opened at 45.58 on Thursday. Halliburton has a one year low of $40.12 and a one year high of $58.78. The company’s market cap is $39.56 billion. The company’s 50-day moving average price is $43.65 and its 200 day moving average price is $49.25.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, April 24th. The oilfield services company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. Halliburton had a negative net margin of 21.19% and a negative return on equity of 0.48%. Halliburton’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. Equities analysts forecast that Halliburton will post $1.01 EPS for the current fiscal year.
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In other Halliburton news, Director William E. Albrecht bought 8,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $46.33 per share, with a total value of $370,640.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $370,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares during the period. Vanguard Group Inc. boosted its stake in Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock valued at $2,878,947,000 after buying an additional 2,242,976 shares during the period. Janus Capital Management LLC boosted its stake in Halliburton by 70.1% in the first quarter. Janus Capital Management LLC now owns 4,641,978 shares of the oilfield services company’s stock valued at $228,423,000 after buying an additional 1,913,257 shares during the period. Westwood Holdings Group Inc. boosted its stake in Halliburton by 20,009.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,551,240 shares of the oilfield services company’s stock valued at $76,337,000 after buying an additional 1,543,526 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Halliburton by 261.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,112,557 shares of the oilfield services company’s stock valued at $103,959,000 after buying an additional 1,528,779 shares during the period. Hedge funds and other institutional investors own 79.67% of the company’s stock.
Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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