Loop Capital assumed coverage on shares of Halliburton Co. (NYSE:HAL) in a report issued on Friday, The Fly reports. The firm issued a buy rating on the oilfield services company’s stock.
Several other research analysts also recently weighed in on HAL. Credit Suisse Group AG reiterated a buy rating on shares of Halliburton in a report on Thursday, June 2nd. Susquehanna reiterated a positive rating and issued a $55.00 price target (up from $47.00) on shares of Halliburton in a report on Monday, June 13th. Howard Weil boosted their price target on Halliburton from $37.00 to $45.00 and gave the company a sector perform rating in a report on Wednesday, June 15th. Scotiabank reiterated a sector perform rating and issued a $45.00 price target (up from $37.00) on shares of Halliburton in a report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. reiterated a buy rating and issued a $46.00 price target on shares of Halliburton in a report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Halliburton presently has a consensus rating of Buy and an average target price of $46.65.
Halliburton (NYSE:HAL) traded up 0.100% during mid-day trading on Friday, reaching $44.925. The company’s stock had a trading volume of 1,448,529 shares. Halliburton has a 1-year low of $27.64 and a 1-year high of $46.90. The stock’s market capitalization is $38.69 billion. The stock’s 50 day moving average price is $43.37 and its 200 day moving average price is $41.82.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The company earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. Halliburton’s revenue was down 35.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Analysts expect that Halliburton will post ($0.18) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.60%. Halliburton’s dividend payout ratio is currently -10.86%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. AMP Capital Investors Ltd increased its position in Halliburton by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 250,079 shares of the oilfield services company’s stock worth $9,007,000 after buying an additional 11,116 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Halliburton by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,076,706 shares of the oilfield services company’s stock worth $788,580,000 after buying an additional 225,805 shares in the last quarter. BlackRock Group LTD increased its position in Halliburton by 1.4% in the first quarter. BlackRock Group LTD now owns 6,791,899 shares of the oilfield services company’s stock worth $242,605,000 after buying an additional 96,910 shares in the last quarter. Institutional Capital LLC acquired a new position in Halliburton during the first quarter worth $107,084,000. Finally, Franklin Resources Inc. increased its position in Halliburton by 38.2% in the first quarter. Franklin Resources Inc. now owns 27,932,069 shares of the oilfield services company’s stock worth $997,742,000 after buying an additional 7,714,584 shares in the last quarter. Institutional investors and hedge funds own 79.64% of the company’s stock.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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