Halliburton Receives Neutral Rating from Zacks (HAL)
Zacks reissued their neutral rating on shares of Halliburton (NYSE: HAL) in a report released on Friday. Zacks currently has a $45.00 target price on the stock.
Zacks’ analyst wrote, “Following Halliburton’s better-than-expected fourth quarter results, we are maintaining our Neutral recommendation on the oilfield services behemoth. Houston-based Halliburton benefited from higher activity in the international markets that made up for cost inflation. The company continues to be plagued by sluggish North American operations, a spike in the costs for guar gums, and potential liability exposure to the Deepwater Horizon rig disaster. However, the world’s second-largest oilfield services firm after Schlumberger is enjoying strong demand for its services in international markets and expects the trend to continue in the coming years. Halliburton’s inexpensive valuation provides additional support. Nevertheless, the increased pricing pressure in its North American operations keeps us on the sidelines. “
Halliburton (NYSE: HAL) opened at 40.48 on Friday. Halliburton has a 52-week low of $26.28 and a 52-week high of $43.96. The stock’s 50-day moving average is currently $41.20. The company has a market cap of $37.720 billion and a price-to-earnings ratio of 14.33.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, March 4th. This is a positive change from Halliburton’s previous quarterly dividend of $0.09.
HAL has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a buy rating on shares of Halliburton in a research note to investors on Tuesday, March 12th. Separately, analysts at RBC Capital reiterated an outperform rating on shares of Halliburton in a research note to investors on Thursday, March 7th. They now have a $45.00 price target on the stock. Finally, analysts at Macquarie reiterated an outperform rating on shares of Halliburton in a research note to investors on Friday, March 1st. They now have a $49.00 price target on the stock.
Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Halliburton currently has a consensus rating of Buy and an average target price of $48.95.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.
To view Zacks’ full report, visit www.zacks.com
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