Wolfe Research Initiates Coverage on Halliburton (HAL)
Wolfe Research assumed coverage on shares of Halliburton (NYSE:HAL) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the oilfield services company’s stock.
HAL has been the subject of several other research reports. Wells Fargo & Co reiterated a buy rating on shares of Halliburton in a research note on Friday, September 7th. Credit Suisse Group set a $51.00 price target on Halliburton and gave the stock a buy rating in a research note on Thursday, September 6th. ValuEngine downgraded Halliburton from a hold rating to a sell rating in a research note on Tuesday, July 24th. Citigroup decreased their price target on Halliburton from $61.00 to $53.00 and set a buy rating for the company in a research note on Monday, June 25th. Finally, Cowen decreased their price target on Halliburton from $51.00 to $47.00 and set a market perform rating for the company in a research note on Tuesday, July 24th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $53.56.
HAL stock traded down $0.15 during mid-day trading on Wednesday, hitting $39.60. The stock had a trading volume of 7,750,654 shares, compared to its average volume of 8,868,158. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.24 and a quick ratio of 1.72. Halliburton has a 1-year low of $35.75 and a 1-year high of $57.86. The firm has a market cap of $35.66 billion, a P/E ratio of 32.46, a PEG ratio of 2.54 and a beta of 1.01.
In related news, Director Murry Gerber purchased 5,800 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was bought at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the purchase, the director now directly owns 60,961 shares in the company, valued at approximately $2,478,674.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James S. Brown sold 15,989 shares of the firm’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 transaction of $648,034.17. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
A number of large investors have recently modified their holdings of HAL. Bank of Montreal Can increased its position in shares of Halliburton by 12.7% during the third quarter. Bank of Montreal Can now owns 634,507 shares of the oilfield services company’s stock valued at $25,718,000 after buying an additional 71,566 shares during the period. Daiwa SB Investments Ltd. increased its holdings in Halliburton by 9.2% during the third quarter. Daiwa SB Investments Ltd. now owns 16,890 shares of the oilfield services company’s stock valued at $685,000 after buying an additional 1,420 shares during the last quarter. Viking Fund Management LLC increased its holdings in Halliburton by 8.7% during the third quarter. Viking Fund Management LLC now owns 375,000 shares of the oilfield services company’s stock valued at $15,199,000 after buying an additional 30,000 shares during the last quarter. Bremer Trust National Association increased its holdings in Halliburton by 91.4% during the third quarter. Bremer Trust National Association now owns 23,445 shares of the oilfield services company’s stock valued at $950,000 after buying an additional 11,195 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV purchased a new stake in Halliburton during the third quarter valued at approximately $489,000. Institutional investors own 78.84% of the company’s stock.
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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