Zacks Investment Research downgraded shares of Halliburton (NYSE:HAL) from a buy rating to a hold rating in a report issued on Friday, January 5th.
According to Zacks, “Halliburton’s shares have outperformed the Zacks Oil & Gas Field Services industry over the past six months (up +24% vs. +11.7%). This price performance is backed by phenomenal earnings surprise history, with the company having surpassed expectations in all the trailing 13 quarters. The world’s No. 2 oilfield-services provider's consistently strong numbers could be attributed to improved utilization and pricing gains in North America. Of late, Halliburton has also been aided by margin expansion at its drilling and evaluation product lines. However, muted outlook across the international markets is likely to dampen investor confidence. Moreover, with the failure of BHI acquisition, HAL had to book a massive $3.5 billion in breakup charges that stretched its balance sheet. Hence, we advise investors to wait for a better entry point before buying shares in HAL.”
HAL has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on Halliburton from $60.00 to $55.00 and set an overweight rating for the company in a research report on Tuesday, September 12th. Loop Capital reiterated a buy rating and issued a $57.00 price objective (down from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. Scotiabank reaffirmed a buy rating and set a $52.00 price target on shares of Halliburton in a research report on Wednesday, October 25th. Citigroup reduced their price target on Halliburton from $54.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, October 25th. Finally, Cowen reiterated a market perform rating and set a $50.00 price objective on shares of Halliburton in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Halliburton has a consensus rating of Buy and an average price target of $59.73.
Halliburton (HAL) opened at $54.14 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 1.25. Halliburton has a twelve month low of $38.18 and a twelve month high of $57.86. The stock has a market capitalization of $47,240.00, a PE ratio of -106.16, a P/E/G ratio of 2.62 and a beta of 1.03.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. research analysts predict that Halliburton will post 2.62 EPS for the current fiscal year.
In other news, insider Timothy Mckeon sold 1,609 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $48.99, for a total value of $78,824.91. Following the completion of the transaction, the insider now directly owns 18,612 shares in the company, valued at approximately $911,801.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robb L. Voyles sold 39,287 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $55.00, for a total value of $2,160,785.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,507 shares of company stock worth $8,380,429. 0.47% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of HAL. Neuberger Berman Group LLC boosted its holdings in Halliburton by 98.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 428,139 shares of the oilfield services company’s stock valued at $18,286,000 after acquiring an additional 212,077 shares during the period. Ray Gerald L & Associates Ltd. boosted its holdings in Halliburton by 12.8% during the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 24,789 shares of the oilfield services company’s stock valued at $1,059,000 after acquiring an additional 2,816 shares during the period. IndexIQ Advisors LLC boosted its holdings in Halliburton by 16.5% during the 2nd quarter. IndexIQ Advisors LLC now owns 15,019 shares of the oilfield services company’s stock valued at $642,000 after acquiring an additional 2,129 shares during the period. Keybank National Association OH boosted its holdings in Halliburton by 4.2% during the 2nd quarter. Keybank National Association OH now owns 478,751 shares of the oilfield services company’s stock valued at $20,447,000 after acquiring an additional 19,386 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Halliburton by 5.4% during the 2nd quarter. Principal Financial Group Inc. now owns 1,290,125 shares of the oilfield services company’s stock valued at $55,101,000 after acquiring an additional 65,999 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.
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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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