Traders Buy Shares of Halliburton Co. (HAL) on Weakness
Investors bought shares of Halliburton Co. (NYSE:HAL) on weakness during trading hours on Tuesday. $95.03 million flowed into the stock on the tick-up and $59.17 million flowed out of the stock on the tick-down, for a money net flow of $35.86 million into the stock. Of all companies tracked, Halliburton had the 7th highest net in-flow for the day. Halliburton traded down ($0.62) for the day and closed at $44.99
Several brokerages recently issued reports on HAL. Citigroup Inc. increased their price target on shares of Halliburton from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Stephens reiterated a “top pick” rating on shares of Halliburton in a research note on Friday. Societe Generale lowered shares of Halliburton from a “buy” rating to a “hold” rating and increased their price target for the stock from $46.00 to $50.00 in a research note on Monday. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Halliburton in a research note on Tuesday, July 5th. Finally, Vetr lowered shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 price objective for the company. in a research note on Thursday, June 30th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Halliburton currently has a consensus rating of “Buy” and a consensus target price of $46.69.
The company has a 50-day moving average price of $44.36 and a 200 day moving average price of $37.68. The stock’s market capitalization is $38.66 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, May 3rd. The oilfield services company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. During the same period last year, the business earned $0.49 earnings per share. The company earned $4.20 billion during the quarter, compared to analyst estimates of $4.41 billion. The firm’s revenue was down 40.5% compared to the same quarter last year. Analysts predict that Halliburton Co. will post ($0.24) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, September 2nd.
In related news, insider James S. Brown sold 4,394 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $40.00, for a total transaction of $175,760.00. Following the completion of the sale, the insider now directly owns 291,904 shares of the company’s stock, valued at approximately $11,676,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jeffrey Allen Miller sold 19,776 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $45.00, for a total value of $889,920.00. Following the sale, the president now directly owns 319,403 shares of the company’s stock, valued at $14,373,135. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Halliburton by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 50,057,676 shares of the oilfield services company’s stock worth $1,703,963,000 after buying an additional 992,619 shares during the last quarter. Veritas Asset Management LLP increased its stake in shares of Halliburton by 3.6% in the fourth quarter. Veritas Asset Management LLP now owns 8,816,855 shares of the oilfield services company’s stock worth $300,126,000 after buying an additional 303,800 shares during the last quarter. Standard Life Investments LTD increased its stake in shares of Halliburton by 3.0% in the fourth quarter. Standard Life Investments LTD now owns 6,717,085 shares of the oilfield services company’s stock worth $228,615,000 after buying an additional 196,547 shares during the last quarter. Tweedy Browne Co. LLC increased its stake in shares of Halliburton by 0.7% in the fourth quarter. Tweedy Browne Co. LLC now owns 5,332,363 shares of the oilfield services company’s stock worth $181,514,000 after buying an additional 35,635 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Halliburton by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,934,003 shares of the oilfield services company’s stock worth $99,874,000 after buying an additional 435,336 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.
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