Halliburton Company (HAL) Upgraded to “Hold” at ValuEngine
Halliburton Company (NYSE:HAL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday.
A number of other analysts have also recently commented on HAL. Seaport Global Securities lowered their price target on Halliburton from $72.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, March 27th. Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 price target (down previously from $66.00) on shares of Halliburton in a research report on Monday, March 27th. Credit Suisse Group AG set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Monday, March 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Halliburton in a research report on Monday, April 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price target on shares of Halliburton in a research report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $59.61.
Shares of Halliburton (NYSE:HAL) opened at 44.38 on Friday. The company’s 50-day moving average price is $43.66 and its 200-day moving average price is $49.22. Halliburton has a 52-week low of $40.12 and a 52-week high of $58.78. The stock’s market cap is $38.52 billion. Halliburton also saw unusually large options trading on Wednesday. Stock investors bought 11,959 put options on the company. This is an increase of approximately 171% compared to the average daily volume of 4,407 put options.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, April 24th. The oilfield services company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Halliburton had a negative return on equity of 0.48% and a negative net margin of 21.19%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Halliburton will post $1.01 earnings per share for the current fiscal year.
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In related news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $370,640. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of HAL. Sumitomo Mitsui Financial Group Inc. bought a new stake in Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC boosted its position in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank boosted its position in Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in Halliburton by 1.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,879 shares of the oilfield services company’s stock worth $142,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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