Halliburton Co. (HAL) Hits New 1-Year High at $46.88
Halliburton Co. (NYSE:HAL) hit a new 52-week high on Friday . The stock traded as high as $46.88 and last traded at $46.86, with a volume of 4,780,882 shares changing hands. The stock had previously closed at $46.46.
A number of research firms have commented on HAL. Jefferies Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Halliburton in a research report on Monday, April 25th. Vetr raised Halliburton from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research report on Monday, May 9th. KeyCorp reaffirmed an “overweight” rating and set a $54.00 price target (up previously from $45.00) on shares of Halliburton in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Halliburton in a research report on Tuesday, July 5th. Finally, Citigroup Inc. raised Halliburton from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.17.
The company’s market capitalization is $40.34 billion. The company has a 50-day moving average of $44.20 and a 200-day moving average of $39.63.
Halliburton (NYSE:HAL) last posted its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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. The company’s revenue was down 35.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Equities research analysts expect that Halliburton Co. will post ($0.17) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, September 2nd.
In other news, President Jeffrey Allen Miller sold 19,776 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $45.00, for a total transaction of $889,920.00. Following the sale, the president now directly owns 319,403 shares of the company’s stock, valued at approximately $14,373,135. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Several hedge funds and institutional investors recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in Halliburton by 3.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,520,388 shares of the oilfield services company’s stock valued at $85,795,000 after buying an additional 82,208 shares during the period. BlackRock Advisors LLC increased its position in Halliburton by 2.8% in the fourth quarter. BlackRock Advisors LLC now owns 1,616,821 shares of the oilfield services company’s stock valued at $55,037,000 after buying an additional 43,436 shares during the period. Airain ltd increased its position in Halliburton by 39.6% in the fourth quarter. Airain ltd now owns 75,837 shares of the oilfield services company’s stock valued at $2,581,000 after buying an additional 21,528 shares during the period. Snow Capital Management LP increased its position in Halliburton by 14.3% in the fourth quarter. Snow Capital Management LP now owns 1,346,996 shares of the oilfield services company’s stock valued at $45,852,000 after buying an additional 168,528 shares during the period. Finally, KBC Group NV increased its position in Halliburton by 22.3% in the fourth quarter. KBC Group NV now owns 192,118 shares of the oilfield services company’s stock valued at $6,540,000 after buying an additional 35,069 shares during the period.
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.
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