Bank of America reiterated their buy rating on shares of Halliburton (NYSE:HAL) in a report released on Monday morning, MarketBeat Ratings reports. Bank of America currently has a $48.00 price objective on the oilfield services company’s stock, down from their prior price objective of $52.00.
Several other research analysts have also recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Halliburton in a report on Tuesday, September 18th. They issued an overweight rating and a $50.00 price objective for the company. JPMorgan Chase & Co. set a $60.00 price objective on shares of Halliburton and gave the company a buy rating in a report on Monday, September 17th. Credit Suisse Group set a $51.00 price objective on shares of Halliburton and gave the company a buy rating in a report on Thursday, September 6th. Wells Fargo & Co reiterated a buy rating on shares of Halliburton in a report on Friday, September 7th. Finally, Cleveland Research cut shares of Halliburton from a buy rating to a neutral rating in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $51.24.
Halliburton stock opened at $29.79 on Monday. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $27.54 billion, a PE ratio of 24.42, a P/E/G ratio of 0.92 and a beta of 1.06. Halliburton has a 12-month low of $29.24 and a 12-month high of $57.86.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Halliburton will post 1.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, December 5th. Halliburton’s payout ratio is 59.02%.
In related news, VP Anne L. Beaty sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $32.33, for a total value of $232,776.00. Following the completion of the transaction, the vice president now owns 62,196 shares of the company’s stock, valued at approximately $2,010,796.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Insiders have sold 24,399 shares of company stock valued at $924,648 over the last 90 days. 0.54% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Ardsley Advisory Partners acquired a new position in Halliburton in the 2nd quarter worth approximately $4,957,000. Canada Pension Plan Investment Board boosted its stake in Halliburton by 10.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 617,412 shares of the oilfield services company’s stock worth $27,821,000 after purchasing an additional 56,586 shares during the period. Tower Research Capital LLC TRC boosted its stake in Halliburton by 1,183.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,231 shares of the oilfield services company’s stock worth $686,000 after purchasing an additional 14,044 shares during the period. State of Alaska Department of Revenue boosted its stake in Halliburton by 4.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 145,421 shares of the oilfield services company’s stock worth $5,893,000 after purchasing an additional 5,542 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Halliburton by 8.3% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 32,917 shares of the oilfield services company’s stock worth $1,329,000 after purchasing an additional 2,513 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.
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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