Halliburton Company (HAL) Receives Outperform Rating from Sanford C. Bernstein
Halliburton Company (NYSE:HAL)‘s stock had its “outperform” rating reaffirmed by research analysts at Sanford C. Bernstein in a research note issued on Wednesday. They currently have a $53.00 price target on the oilfield services company’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 31.55% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. UBS AG restated a “buy” rating and issued a $70.00 price target on shares of Halliburton in a report on Monday, May 15th. Royal Bank Of Canada set a $65.00 price target on Halliburton and gave the stock a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. Morgan Stanley restated an “overweight” rating and issued a $60.00 price target (down from $67.00) on shares of Halliburton in a report on Wednesday, June 21st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target on shares of Halliburton in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. Halliburton has a consensus rating of “Buy” and a consensus target price of $58.74.
Halliburton (NYSE:HAL) traded down 2.47% during trading on Wednesday, hitting $40.29. 9,178,227 shares of the stock were exchanged. Halliburton has a one year low of $38.18 and a one year high of $58.78. The stock’s 50 day moving average is $40.63 and its 200-day moving average is $45.49. The company’s market cap is $35.12 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities research analysts expect that Halliburton will post $1.12 earnings per share for the current fiscal year.
In other news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HAL. Wetherby Asset Management Inc. raised its holdings in Halliburton by 2.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 15,172 shares of the oilfield services company’s stock worth $746,000 after acquiring an additional 334 shares during the last quarter. Seatown Holdings Pte. Ltd. bought a new stake in Halliburton in the 1st quarter worth approximately $13,287,000. LA Financiere DE L Echiquier grew its position in Halliburton by 33.3% in the 1st quarter. LA Financiere DE L Echiquier now owns 80,000 shares of the oilfield services company’s stock worth $3,937,000 after purchasing an additional 20,000 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in Halliburton by 10.8% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 71,963 shares of the oilfield services company’s stock worth $3,541,000 after purchasing an additional 7,013 shares during the period. Finally, Swedbank grew its position in Halliburton by 0.3% in the 1st quarter. Swedbank now owns 2,095,249 shares of the oilfield services company’s stock worth $103,107,000 after purchasing an additional 5,277 shares during the period. Hedge funds and other institutional investors own 79.53% 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.
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