Royal Bank Of Canada Reaffirms “Buy” Rating for Halliburton Company (NYSE:HAL)
Halliburton Company (NYSE:HAL)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada in a research report issued on Thursday. They currently have a $60.00 target price on the oilfield services company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 32.22% from the stock’s current price.
HAL has been the topic of several other research reports. BMO Capital Markets set a $67.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Monday, March 27th. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Sanford C. Bernstein reiterated a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target (down previously from $67.00) on shares of Halliburton in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.61.
Shares of Halliburton (NYSE HAL) traded down 0.44% on Thursday, hitting $45.38. The stock had a trading volume of 10,395,275 shares. The company has a 50 day moving average of $43.65 and a 200-day moving average of $49.25. The firm’s market capitalization is $39.38 billion. Halliburton has a 12-month low of $40.12 and a 12-month high of $58.78. Halliburton also was the target of unusually large options trading activity on Wednesday. Traders purchased 11,959 put options on the stock. This represents an increase of approximately 171% compared to the average volume of 4,407 put options.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, April 24th. The oilfield services company reported $0.04 earnings per share (EPS) for the quarter, topping 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%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities analysts predict that Halliburton will post $1.01 EPS for the current fiscal year.
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In related news, Director William E. Albrecht purchased 8,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $46.33 per share, with a total value of $370,640.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $370,640. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased 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. BlackRock Inc. increased its stake in Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock valued at $2,550,805,000 after buying an additional 50,022,982 shares during the period. Wellington Management Group LLP increased its stake in Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after buying an additional 227,704 shares during the period. FMR LLC increased its stake in Halliburton by 11.0% in the first quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock valued at $743,191,000 after buying an additional 1,496,685 shares during the period. Finally, Geode Capital Management LLC increased its stake in Halliburton by 8.3% in the first quarter. Geode Capital Management LLC now owns 8,273,561 shares of the oilfield services company’s stock valued at $406,548,000 after buying an additional 635,993 shares during the period. 79.67% of the stock is owned by hedge funds and other institutional investors.
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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