Traders Sell Halliburton Company (HAL) on Strength Following Analyst Downgrade

Traders sold shares of Halliburton Company (NYSE:HAL) on strength during trading hours on Wednesday after Citigroup lowered their price target on the stock from $54.00 to $52.00. $49.76 million flowed into the stock on the tick-up and $70.18 million flowed out of the stock on the tick-down, for a money net flow of $20.42 million out of the stock. Of all stocks tracked, Halliburton had the 0th highest net out-flow for the day. Halliburton traded up $0.09 for the day and closed at $41.46

A number of other equities research analysts have also commented on the company. Credit Suisse Group set a $60.00 price target on Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. TheStreet raised Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. BidaskClub raised Halliburton from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $69.00 price target on shares of Halliburton in a research report on Friday, June 30th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $52.00 price target on shares of Halliburton in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.51.

In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Halliburton in the 1st quarter valued at about $100,000. Perigon Wealth Management LLC raised its holdings in shares of Halliburton by 0.8% in the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after acquiring an additional 17 shares in the last quarter. Ledyard National Bank raised its holdings in shares of Halliburton by 6.5% in the 2nd quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after acquiring an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. raised its holdings in shares of Halliburton by 5.0% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after acquiring an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its holdings in shares of Halliburton by 87.6% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after acquiring an additional 1,266 shares in the last quarter. 79.32% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s 50-day moving average price is $43.60 and its 200 day moving average price is $43.73. The stock’s market cap is $35.94 billion.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. Equities analysts anticipate that Halliburton Company will post $1.14 earnings per share for the current year.

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Halliburton Company Profile

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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