Halliburton (HAL) Earns “Buy” Rating from BMO Capital Markets
Halliburton (NYSE:HAL)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a report issued on Tuesday. They currently have a $58.00 target price on the oilfield services company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.15% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Cowen set a $55.00 target price on Halliburton and gave the company a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research lowered Halliburton from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group set a $57.00 target price on Halliburton and gave the company a “buy” rating in a research report on Thursday, January 4th. Royal Bank of Canada set a $60.00 target price on Halliburton and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $56.00 target price (up previously from $51.00) on shares of Halliburton in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $57.21.
Halliburton (HAL) traded down $0.19 during midday trading on Tuesday, hitting $53.14. The stock had a trading volume of 9,025,500 shares, compared to its average volume of 9,026,289. The firm has a market capitalization of $45,490.00, a price-to-earnings ratio of 221.42, a P/E/G ratio of 3.07 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78.
In other news, Chairman David J. Lesar sold 50,000 shares of Halliburton stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the transaction, the chairman now directly owns 490,143 shares in the company, valued at approximately $21,419,249.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lawrence J. Pope sold 9,100 shares of Halliburton stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $41.35, for a total value of $376,285.00. Following the transaction, the executive vice president now owns 180,646 shares of the company’s stock, valued at $7,469,712.10. The disclosure for this sale can be found here. Insiders have sold a total of 141,612 shares of company stock valued at $6,556,433 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Securities Inc. boosted its stake in Halliburton by 0.3% in the 2nd quarter. Comerica Securities Inc. now owns 6,606 shares of the oilfield services company’s stock valued at $282,000 after purchasing an additional 18 shares during the period. Summit Financial Wealth Advisors LLC boosted its stake in Halliburton by 0.8% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 13,715 shares of the oilfield services company’s stock valued at $586,000 after purchasing an additional 115 shares during the period. Pinebridge Investments L.P. boosted its stake in Halliburton by 0.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 19,775 shares of the oilfield services company’s stock valued at $845,000 after purchasing an additional 120 shares during the period. Covington Capital Management boosted its stake in Halliburton by 0.8% in the 2nd quarter. Covington Capital Management now owns 23,814 shares of the oilfield services company’s stock valued at $1,017,000 after purchasing an additional 185 shares during the period. Finally, National Asset Management Inc. boosted its stake in Halliburton by 7.9% in the 2nd quarter. National Asset Management Inc. now owns 5,271 shares of the oilfield services company’s stock valued at $227,000 after purchasing an additional 385 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.
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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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