Halliburton Company (HAL) Price Target Cut to $61.00
Halliburton Company (NYSE:HAL) had its price objective lowered by FBR & Co from $70.00 to $61.00 in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the oilfield services company’s stock.
Several other analysts have also issued reports on the company. HSBC Holdings plc restated a buy rating and issued a $62.00 price objective (down previously from $65.00) on shares of Halliburton in a research note on Thursday, June 22nd. Barclays PLC restated an overweight rating on shares of Halliburton in a research note on Monday, June 26th. Guggenheim lowered Halliburton from a buy rating to a neutral rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered Halliburton from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded Halliburton from a sell rating to a hold rating in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $58.85.
Halliburton (NYSE HAL) opened at 42.44 on Friday. The firm’s market cap is $36.99 billion. Halliburton has a one year low of $40.12 and a one year high of $58.78. The stock’s 50 day moving average price is $43.25 and its 200-day moving average price is $48.53.
Halliburton (NYSE:HAL) last released its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Halliburton’s revenue was up 29.3% on a year-over-year basis. Analysts forecast that Halliburton will post $1.09 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. Halliburton’s dividend payout ratio is currently -423.50%.
In other news, Director William E. Albrecht bought 8,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $46.33 per share, with a total value of $370,640.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $370,640. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC boosted its stake in shares of Halliburton by 0.8% in the first 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 last quarter. Ledyard National Bank boosted its stake in shares of Halliburton by 6.5% in the second 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 last quarter. Bbva Compass Bancshares Inc. boosted its stake in shares of Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares during the last quarter. 79.80% of the stock is currently owned by institutional investors.
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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