Investors Buy Shares of Halliburton Co. (HAL) on Weakness
Traders bought shares of Halliburton Co. (NYSE:HAL) on weakness during trading on Tuesday. $61.07 million flowed into the stock on the tick-up and $43.37 million flowed out of the stock on the tick-down, for a money net flow of $17.70 million into the stock. Of all companies tracked, Halliburton had the 25th highest net in-flow for the day. Halliburton traded down ($0.67) for the day and closed at $44.07
A number of analysts recently issued reports on HAL shares. Citigroup Inc. upgraded Halliburton from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. Iberia Capital reiterated an “outperform” rating and issued a $50.00 price target (up previously from $40.00) on shares of Halliburton in a report on Wednesday, May 4th. Cowen and Company reiterated a “market perform” rating and issued a $40.00 price target (up previously from $33.00) on shares of Halliburton in a report on Wednesday, May 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Halliburton in a report on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $46.00 price target on shares of Halliburton in a report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.84.
The stock’s market capitalization is $37.95 billion. The stock has a 50 day moving average price of $44.27 and a 200 day moving average price of $40.48.
Halliburton (NYSE:HAL) last released its quarterly earnings data 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 company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.76 billion. The firm’s quarterly revenue was down 35.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Analysts forecast that Halliburton Co. will post ($0.18) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, September 2nd.
In related news, President Jeffrey Allen Miller sold 19,776 shares of the business’s 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 owns 319,403 shares of the company’s stock, valued at $14,373,135. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A hedge fund recently raised its stake in Halliburton stock. Schwab Charles Investment Management Inc. increased its position in Halliburton Co. (NYSE:HAL) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,520,388 shares of the oilfield services company’s stock after buying an additional 82,208 shares during the period. Schwab Charles Investment Management Inc. owned about 0.29% of Halliburton worth $85,795,000 as of its most recent SEC filing.
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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