Halliburton Company (NYSE:HAL) Receives Buy Rating from UBS AG
Halliburton Company (NYSE:HAL)‘s stock had its “buy” rating reiterated by research analysts at UBS AG in a research report issued on Tuesday, www.flashratings.com reports. They currently have a $62.00 price objective on the oilfield services company’s stock, down from their prior price objective of $70.00. UBS AG’s price target would indicate a potential upside of 45.23% from the company’s current price.
HAL has been the subject of several other reports. Credit Suisse Group set a $60.00 target price on Halliburton and gave the company a “buy” rating in a research report on Monday, March 27th. HSBC Holdings plc reiterated a “buy” rating and issued a $62.00 target price (down from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. Guggenheim downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $64.00 target price (down from $66.00) on shares of Halliburton in a research report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Halliburton currently has a consensus rating of “Buy” and a consensus price target of $59.40.
Shares of Halliburton (NYSE HAL) traded up 0.42% during mid-day trading on Tuesday, reaching $42.69. The company had a trading volume of 13,840,868 shares. The company’s market cap is $37.05 billion. Halliburton has a 52-week low of $40.12 and a 52-week high of $58.78. The firm’s 50-day moving average price is $43.55 and its 200 day moving average price is $48.99.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a negative return on equity of 0.48% and a negative net margin of 21.19%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the company earned ($0.14) earnings per share. Equities analysts expect that Halliburton will post $1.01 EPS for the current year.
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In other Halliburton news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at approximately $370,640. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. ING Groep NV raised its stake in shares of Halliburton by 513.7% in the second quarter. ING Groep NV now owns 46,583 shares of the oilfield services company’s stock worth $1,990,000 after buying an additional 38,993 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Halliburton by 66.6% in the second quarter. Russell Investments Group Ltd. now owns 1,014,113 shares of the oilfield services company’s stock worth $43,312,000 after buying an additional 405,293 shares during the period. Deltec Asset Management LLC raised its stake in shares of Halliburton by 45.6% in the second quarter. Deltec Asset Management LLC now owns 125,200 shares of the oilfield services company’s stock worth $5,347,000 after buying an additional 39,200 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in shares of Halliburton during the second quarter worth approximately $4,644,000. Finally, Argus Investors Counsel Inc. raised its stake in shares of Halliburton by 13.6% in the second quarter. Argus Investors Counsel Inc. now owns 12,500 shares of the oilfield services company’s stock worth $534,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 79.74% 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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