Halliburton Company (NYSE:HAL)‘s stock had its “outperform” rating reaffirmed by investment analysts at Sanford C. Bernstein in a report issued on Wednesday, September 6th. They presently have a $53.00 price objective on the oilfield services company’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 19.77% from the company’s previous close.
HAL has been the subject of a number of other reports. Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group restated an “outperform” rating and set a $55.00 target price (down from $60.00) on shares of Halliburton in a research report on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 price objective (down previously from $67.00) on shares of Halliburton in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Halliburton has an average rating of “Buy” and a consensus price target of $58.61.
Halliburton (NYSE:HAL) opened at 44.25 on Wednesday. Halliburton has a one year low of $38.18 and a one year high of $58.78. The firm’s market cap is $38.57 billion. The firm has a 50-day moving average price of $40.41 and a 200-day moving average price of $44.79.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, equities analysts expect that Halliburton will post $1.12 EPS for the current fiscal year.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Halliburton during the 1st quarter worth approximately $100,000. Perigon Wealth Management LLC increased its stake in Halliburton by 0.8% during the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares during the period. Ledyard National Bank increased its stake in Halliburton by 6.5% during the 2nd quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares during the period. Bbva Compass Bancshares Inc. increased its position in shares of Halliburton by 5.0% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after purchasing an additional 128 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Halliburton by 87.6% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after purchasing an additional 1,266 shares during the last quarter. 79.51% of the stock is currently owned by hedge funds and other institutional investors.
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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