Scotiabank reiterated their buy rating on shares of Halliburton Company (NYSE:HAL) in a research report sent to investors on Wednesday, October 25th. The brokerage currently has a $52.00 target price on the oilfield services company’s stock.
A number of other research firms also recently commented on HAL. FBR & Co dropped their price objective on Halliburton from $61.00 to $55.00 and set a buy rating for the company in a report on Tuesday, October 24th. TheStreet upgraded Halliburton from a d+ rating to a c- rating in a report on Friday, September 29th. Deutsche Bank AG started coverage on Halliburton in a report on Tuesday, October 10th. They issued a buy rating and a $54.00 price target for the company. Cowen and Company set a $50.00 price target on Halliburton and gave the company a hold rating in a report on Friday, October 6th. Finally, Seaport Global Securities raised shares of Halliburton from a neutral rating to a buy rating and upped their price objective for the company from $43.00 to $50.00 in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Halliburton has an average rating of Buy and a consensus price target of $57.55.
Halliburton (HAL) opened at $44.58 on Wednesday. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78. The firm has a market capitalization of $38,897.88, a price-to-earnings ratio of 61.07, a price-to-earnings-growth ratio of 4.82 and a beta of 1.05. The company has a current ratio of 2.20, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13.
Halliburton (NYSE:HAL) last issued its quarterly earnings results 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 company had revenue of $5.44 billion for 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 revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. sell-side analysts expect that Halliburton will post 1.16 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, December 6th. Halliburton’s dividend payout ratio (DPR) is presently 300.01%.
In other Halliburton news, Chairman David J. Lesar sold 50,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the sale, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. bought a new position in Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC boosted its stake 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 purchasing an additional 17 shares in the last quarter. Ledyard National Bank boosted its stake 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 purchasing an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its stake 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 purchasing an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake 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 purchasing an additional 1,266 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.
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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