Halliburton Co. (NYSE:HAL) – Analysts at Seaport Global Securities increased their Q3 2016 earnings estimates for shares of Halliburton in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Brown now forecasts that the firm will post earnings of ($0.05) per share for the quarter, up from their prior estimate of ($0.06). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Halliburton’s FY2016 earnings at ($0.16) EPS.
Halliburton (NYSE:HAL) last released its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The company’s revenue was down 35.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Halliburton from a “buy” rating to a “hold” rating in a research note on Friday. FBR & Co upped their price objective on Halliburton from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Simmons upped their price objective on Halliburton from $48.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 21st. Johnson Rice reaffirmed an “accumulate” rating on shares of Halliburton in a research report on Monday, July 25th. Finally, Vetr cut Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price objective for the company. in a research report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $47.30.
Shares of Halliburton (NYSE:HAL) opened at 46.97 on Friday. The firm has a 50-day moving average price of $43.73 and a 200-day moving average price of $42.52. The firm’s market cap is $40.45 billion. Halliburton has a 12-month low of $27.64 and a 12-month high of $47.96.
Several institutional investors have recently bought and sold shares of HAL. Johnson Financial Group Inc. boosted its position in Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock valued at $103,000 after buying an additional 772 shares in the last quarter. Manchester Capital Management LLC boosted its position in Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 9 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock valued at $104,000 after buying an additional 379 shares in the last quarter. Citizens Financial Group Inc RI boosted its position in Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock valued at $117,000 after buying an additional 648 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Halliburton during the second quarter valued at approximately $120,000. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
In other Halliburton news, insider James S. Brown sold 28,439 shares of Halliburton stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $47.00, for a total transaction of $1,336,633.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.46% 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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