Halliburton Company (HAL) Rating Reiterated by Cowen and Company
Halliburton Company (NYSE:HAL)‘s stock had its “market perform” rating restated by research analysts at Cowen and Company in a report released on Tuesday. They currently have a $50.00 price target on the oilfield services company’s stock. Cowen and Company’s target price indicates a potential upside of 18.37% from the company’s previous close.
HAL has been the subject of several other reports. J P Morgan Chase & Co reduced their price objective on Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price objective (down from $60.00) on shares of Halliburton in a research note on Tuesday, July 25th. ValuEngine raised Halliburton from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Zacks Investment Research downgraded Halliburton from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Scotiabank reissued a “buy” rating and issued a $59.00 price objective on shares of Halliburton in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.62.
Shares of Halliburton (HAL) opened at 42.24 on Tuesday. The stock’s market cap is $36.82 billion. The firm has a 50-day moving average price of $43.61 and a 200 day moving average price of $43.81. Halliburton has a 12-month low of $38.18 and a 12-month high of $58.78.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.35 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Equities research analysts predict that Halliburton will post $1.12 EPS for the current fiscal year.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the business. BB&T Corp lifted its position in shares of Halliburton by 16.4% in the 3rd quarter. BB&T Corp now owns 151,745 shares of the oilfield services company’s stock worth $6,984,000 after acquiring an additional 21,387 shares during the period. Strs Ohio lifted its position in shares of Halliburton by 5.0% in the 3rd quarter. Strs Ohio now owns 2,037,145 shares of the oilfield services company’s stock worth $93,769,000 after acquiring an additional 97,000 shares during the period. APG Asset Management N.V. lifted its position in shares of Halliburton by 5.1% in the 3rd quarter. APG Asset Management N.V. now owns 1,109,747 shares of the oilfield services company’s stock worth $51,082,000 after acquiring an additional 54,200 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Halliburton in the 3rd quarter worth approximately $1,300,000. Finally, Founders Capital Management lifted its position in shares of Halliburton by 26.2% in the 3rd quarter. Founders Capital Management now owns 25,262 shares of the oilfield services company’s stock worth $1,163,000 after acquiring an additional 5,241 shares during the period. Institutional investors own 79.32% 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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