Halliburton Co. (HAL) Downgraded by Vetr Inc. to Hold
Vetr cut shares of Halliburton Co. (NYSE:HAL) from a buy rating to a hold rating in a report published on Thursday morning. They currently have $46.86 target price on the oilfield services company’s stock.
HAL has been the topic of several other research reports. Jefferies Group restated a buy rating on shares of Halliburton in a research report on Tuesday, August 30th. Societe Generale upgraded Halliburton from a hold rating to a buy rating and set a $55.00 target price on the stock in a research report on Monday. Goldman Sachs Group Inc. restated a buy rating on shares of Halliburton in a research report on Tuesday, July 5th. Guggenheim restated a sell rating on shares of Halliburton in a research report on Wednesday, August 31st. Finally, Howard Weil upped their target price on Halliburton from $37.00 to $45.00 and gave the company a sector perform rating in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $46.89.
Halliburton (NYSE:HAL) traded up 0.69% on Thursday, hitting $46.69. The company’s stock had a trading volume of 2,241,053 shares. Halliburton has a 12 month low of $27.64 and a 12 month high of $46.90. The stock’s market cap is $40.20 billion. The firm has a 50 day moving average of $43.48 and a 200-day moving average of $42.09.
Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 35.2% compared to the same quarter last year. On average, analysts expect that Halliburton will post ($0.18) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. Halliburton’s dividend payout ratio is presently -10.86%.
Several large investors have recently added to or reduced their stakes in HAL. AMP Capital Investors Ltd boosted its stake in Halliburton by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 250,079 shares of the oilfield services company’s stock valued at $9,007,000 after buying an additional 11,116 shares in the last quarter. Credit Agricole S A boosted its stake in Halliburton by 46.8% in the first quarter. Credit Agricole S A now owns 972,360 shares of the oilfield services company’s stock valued at $34,731,000 after buying an additional 310,195 shares in the last quarter. ING Groep NV boosted its stake in Halliburton by 257.6% in the first quarter. ING Groep NV now owns 61,475 shares of the oilfield services company’s stock valued at $2,197,000 after buying an additional 44,283 shares in the last quarter. Investec Asset Management LTD boosted its stake in Halliburton by 162.0% in the first quarter. Investec Asset Management LTD now owns 624,419 shares of the oilfield services company’s stock valued at $22,304,000 after buying an additional 386,094 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new stake in Halliburton during the first quarter valued at about $214,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company Profile
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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