Halliburton Company (HAL) Receives Consensus Recommendation of “Buy” from Brokerages
Halliburton Company (NYSE:HAL) has been assigned an average recommendation of “Buy” from the thirty-five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $59.29.
HAL has been the topic of a number of recent analyst reports. HSBC Holdings plc reissued a “buy” rating and set a $62.00 price target (down previously from $65.00) on shares of Halliburton in a research note on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating on shares of Halliburton in a research note on Monday, June 26th. Guggenheim lowered Halliburton from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered Halliburton from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised Halliburton from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd.
In other news, Director William E. Albrecht purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $370,640. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of HAL. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC boosted its position in shares of Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank boosted its position in shares of Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in shares of Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.
Shares of Halliburton (HAL) opened at 40.02 on Friday. Halliburton has a 52-week low of $40.00 and a 52-week high of $58.78. The firm has a 50-day moving average price of $42.63 and a 200-day moving average price of $47.79. The stock’s market cap is $34.88 billion.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the company posted ($0.14) EPS. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, analysts anticipate that Halliburton will post $1.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. Halliburton’s dividend payout ratio (DPR) is -423.50%.
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Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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