FY2017 EPS Estimates for Halliburton Company Boosted by Analyst (NYSE:HAL)
Halliburton Company (NYSE:HAL) – Stock analysts at Seaport Global Securities raised their FY2017 EPS estimates for Halliburton in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Urban now expects that the oilfield services company will post earnings of $1.18 per share for the year, up from their prior forecast of $1.07. Seaport Global Securities has a “Buy” rating and a $50.00 price target on the stock.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. Halliburton’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) EPS.
Other analysts have also recently issued reports about the stock. Jefferies Group LLC set a $69.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, April 24th. BMO Capital Markets set a $65.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, April 24th. Deutsche Bank AG dropped their target price on shares of Halliburton from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, April 25th. HSBC Holdings plc began coverage on shares of Halliburton in a report on Wednesday, April 19th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Halliburton in a report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.16.
Halliburton (NYSE HAL) traded down 0.90% during mid-day trading on Thursday, reaching $42.93. 1,134,967 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $43.40 and its 200 day moving average is $48.85. Halliburton has a 1-year low of $40.12 and a 1-year high of $58.78. The stock’s market capitalization is $37.26 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, September 1st. Halliburton’s payout ratio is presently -423.50%.
In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average price of $46.33 per share, with a total value of $370,640.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $370,640. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position 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 valued at $2,550,805,000 after buying an additional 50,022,982 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 last quarter. Janus Capital Management LLC raised its position in shares of 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 last quarter. Westwood Holdings Group Inc. raised its position in shares of 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 last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of 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 last quarter. 79.74% of the stock is currently 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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