Investors Buy Shares of Halliburton Company (HAL) on Weakness

Investors purchased shares of Halliburton Company (NYSE:HAL) on weakness during trading on Friday. $136.72 million flowed into the stock on the tick-up and $62.76 million flowed out of the stock on the tick-down, for a money net flow of $73.96 million into the stock. Of all stocks tracked, Halliburton had the 5th highest net in-flow for the day. Halliburton traded down ($0.34) for the day and closed at $44.75

A number of equities research analysts have issued reports on the stock. Cowen and Company set a $50.00 target price on shares of Halliburton and gave the company a “hold” rating in a research note on Friday. TheStreet raised shares of Halliburton from a “d+” rating to a “c-” rating in a research note on Friday, September 29th. Citigroup Inc. lifted their target price on shares of Halliburton from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $57.99.

The firm’s market cap is $39.00 billion. The firm’s 50 day moving average price is $41.91 and its 200-day moving average price is $44.29.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue was up 29.3% on a year-over-year basis. Equities analysts expect that Halliburton Company will post $1.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is -423.50%.

In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Osborn Williams & Donohoe LLC bought a new position in Halliburton in the 3rd quarter valued at about $212,000. Neville Rodie & Shaw Inc. bought a new position in Halliburton in the 3rd quarter valued at about $202,000. Park National Corp OH increased its holdings in Halliburton by 2.9% in the 3rd quarter. Park National Corp OH now owns 109,975 shares of the oilfield services company’s stock valued at $5,062,000 after buying an additional 3,077 shares during the period. Cacti Asset Management LLC increased its holdings in Halliburton by 13.7% in the 3rd quarter. Cacti Asset Management LLC now owns 804,430 shares of the oilfield services company’s stock valued at $36,666,000 after buying an additional 96,814 shares during the period. Finally, Sentry Investment Management LLC increased its holdings in Halliburton by 102.3% in the 2nd quarter. Sentry Investment Management LLC now owns 69,683 shares of the oilfield services company’s stock valued at $2,976,000 after buying an additional 35,245 shares during the period. Institutional investors and hedge funds own 79.51% 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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