Halliburton Co. (HAL) Downgraded by Vetr Inc.
Vetr downgraded shares of Halliburton Co. (NYSE:HAL) from a buy rating to a hold rating in a research note issued to investors on Monday morning. They currently have $42.96 target price on the oilfield services company’s stock.
HAL has been the subject of a number of other reports. Jefferies Group reaffirmed a buy rating and issued a $56.00 price target (up from $47.00) on shares of Halliburton in a research note on Monday, July 11th. Seaport Global Securities reaffirmed a buy rating on shares of Halliburton in a research note on Thursday, July 21st. Johnson Rice reaffirmed an accumulate rating on shares of Halliburton in a research note on Monday, July 25th. Scotiabank reaffirmed a sector perform rating and issued a $45.00 price target (up from $37.00) on shares of Halliburton in a research note on Wednesday, June 15th. Finally, Nomura reaffirmed a buy rating and issued a $53.00 price target on shares of Halliburton in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Halliburton currently has a consensus rating of Buy and an average price target of $46.65.
Shares of Halliburton (NYSE:HAL) opened at 42.72 on Monday. The firm’s market capitalization is $36.79 billion. The firm has a 50-day moving average of $43.58 and a 200-day moving average of $41.49. Halliburton has a 1-year low of $27.64 and a 1-year high of $46.90.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The firm earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company’s quarterly revenue was down 35.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. On average, equities research analysts anticipate that Halliburton will post ($0.17) EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, September 2nd. Halliburton’s payout ratio is -10.86%.
Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of Halliburton by 38.2% in the first quarter. Franklin Resources Inc. now owns 27,932,069 shares of the oilfield services company’s stock worth $997,742,000 after buying an additional 7,714,584 shares during the last quarter. Jennison Associates LLC raised its position in Halliburton by 74.6% in the second quarter. Jennison Associates LLC now owns 10,985,623 shares of the oilfield services company’s stock worth $497,539,000 after buying an additional 4,695,475 shares in the last quarter. FMR LLC raised its position in Halliburton by 40.1% in the second quarter. FMR LLC now owns 13,373,769 shares of the oilfield services company’s stock worth $605,699,000 after buying an additional 3,829,088 shares in the last quarter. Capital World Investors raised its position in Halliburton by 13.4% in the second quarter. Capital World Investors now owns 29,055,680 shares of the oilfield services company’s stock worth $1,315,932,000 after buying an additional 3,440,198 shares in the last quarter. Finally, Institutional Capital LLC bought a new position in Halliburton during the first quarter worth approximately $107,084,000. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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