Traders Buy Shares of Halliburton Co. (HAL) on Weakness
Traders bought shares of Halliburton Co. (NYSE:HAL) on weakness during trading on Monday. $75.51 million flowed into the stock on the tick-up and $52.41 million flowed out of the stock on the tick-down, for a money net flow of $23.10 million into the stock. Of all companies tracked, Halliburton had the 15th highest net in-flow for the day. Halliburton traded down ($1.38) for the day and closed at $42.28
A number of equities analysts recently weighed in on the stock. Cowen and Company restated a “market perform” rating and issued a $40.00 price objective (up from $33.00) on shares of Halliburton in a report on Wednesday, May 4th. KeyCorp reiterated a “buy” rating on shares of Halliburton in a research note on Monday, April 25th. Iberia Capital reiterated an “outperform” rating and set a $50.00 target price (up from $40.00) on shares of Halliburton in a research note on Wednesday, May 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Halliburton in a research note on Wednesday, May 4th. Finally, Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “strong sell” rating in a research note on Monday, April 25th. Nine research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.42.
The firm’s 50 day moving average is $44.15 and its 200 day moving average is $38.38. The stock’s market capitalization is $36.36 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the firm earned $0.44 earnings per share. Halliburton’s revenue for the quarter was down 35.2% on a year-over-year basis. Analysts anticipate that Halliburton Co. will post ($0.18) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, September 2nd.
In other news, insider James S. Brown sold 25,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $39.66, for a total value of $1,007,364.00. Following the sale, the insider now directly owns 281,504 shares of the company’s stock, valued at approximately $11,164,448.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Jeffrey Allen Miller sold 19,776 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $45.00, for a total transaction of $889,920.00. Following the completion of the sale, the president now directly owns 319,403 shares in the company, valued at $14,373,135. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp increased its stake in Halliburton by 81.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 117,672 shares of the oilfield services company’s stock worth $4,006,000 after buying an additional 52,935 shares during the period. Zweig DiMenna Associates LLC increased its stake in shares of Halliburton by 308.2% in the fourth quarter. Zweig DiMenna Associates LLC now owns 923,089 shares of the oilfield services company’s stock valued at $31,422,000 after buying an additional 696,939 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Halliburton by 6.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 518,072 shares of the oilfield services company’s stock valued at $17,635,000 after buying an additional 31,203 shares during the last quarter. Cacti Asset Management increased its stake in shares of Halliburton by 3.8% in the fourth quarter. Cacti Asset Management now owns 614,986 shares of the oilfield services company’s stock valued at $20,934,000 after buying an additional 22,550 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its stake in shares of Halliburton by 1.1% in the fourth quarter. Affinity Investment Advisors LLC now owns 293,165 shares of the oilfield services company’s stock valued at $9,979,000 after buying an additional 3,182 shares during the last quarter.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.