Halliburton (HAL) Cut to Hold at Societe Generale
Societe Generale cut shares of Halliburton (NYSE:HAL) from a buy rating to a hold rating in a research report report published on Friday morning, The Fly reports. Societe Generale currently has $43.00 target price on the oilfield services company’s stock.
A number of other equities research analysts have also recently commented on the company. Morgan Stanley started coverage on Halliburton in a research report on Tuesday, September 18th. They set an overweight rating and a $50.00 target price on the stock. JPMorgan Chase & Co. set a $60.00 target price on Halliburton and gave the company a buy rating in a research report on Monday, September 17th. Credit Suisse Group set a $51.00 target price on Halliburton and gave the company a buy rating in a research report on Thursday, September 6th. Wells Fargo & Co restated a buy rating on shares of Halliburton in a research report on Friday, September 7th. Finally, Raymond James dropped their target price on Halliburton from $59.00 to $55.00 and set a strong-buy rating on the stock in a research report on Tuesday, September 11th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Halliburton presently has a consensus rating of Buy and an average target price of $53.56.
Shares of NYSE:HAL traded down $0.15 during trading on Friday, reaching $39.60. 7,750,654 shares of the company’s stock traded hands, compared to its average volume of 8,868,158. Halliburton has a fifty-two week low of $35.75 and a fifty-two week high of $57.86. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $35.66 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01.
In related news, Director Murry Gerber bought 5,800 shares of the stock in a transaction dated Thursday, July 26th. The shares were acquired at an average cost of $40.66 per share, for a total transaction of $235,828.00. Following the acquisition, the director now directly owns 60,961 shares in the company, valued at approximately $2,478,674.26. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James S. Brown sold 15,989 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Several institutional investors have recently modified their holdings of HAL. Natixis boosted its holdings in shares of Halliburton by 79.6% during the 2nd quarter. Natixis now owns 3,771,221 shares of the oilfield services company’s stock worth $169,931,000 after purchasing an additional 1,671,817 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Halliburton by 121.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,687,497 shares of the oilfield services company’s stock valued at $121,099,000 after buying an additional 1,475,332 shares during the period. Morgan Stanley raised its position in shares of Halliburton by 25.2% during the 2nd quarter. Morgan Stanley now owns 6,879,339 shares of the oilfield services company’s stock valued at $309,984,000 after buying an additional 1,385,703 shares during the period. Advisors Asset Management Inc. raised its position in shares of Halliburton by 1,348.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,179,086 shares of the oilfield services company’s stock valued at $3,477,000 after buying an additional 1,097,687 shares during the period. Finally, CIBC World Markets Inc. raised its position in shares of Halliburton by 455.6% during the 1st quarter. CIBC World Markets Inc. now owns 1,159,345 shares of the oilfield services company’s stock valued at $54,420,000 after buying an additional 950,676 shares during the period. Institutional investors and hedge funds own 78.84% of the company’s stock.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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