Halliburton Company (HAL) PT Set at $56.00 by Jefferies Group LLC
Jefferies Group LLC set a $56.00 price target on Halliburton Company (NYSE:HAL) in a research note issued to investors on Monday. The brokerage currently has a buy rating on the oilfield services company’s stock.
Several other brokerages also recently commented on HAL. Seaport Global Securities upgraded shares of Halliburton from a neutral rating to a buy rating and lifted their target price for the stock from $43.00 to $50.00 in a report on Thursday, July 20th. Zacks Investment Research upgraded shares of Halliburton from a sell rating to a hold rating in a report on Thursday, July 20th. Royal Bank Of Canada reiterated a buy rating and issued a $60.00 target price on shares of Halliburton in a report on Thursday, July 20th. Credit Suisse Group set a $60.00 target price on shares of Halliburton and gave the stock a buy rating in a report on Monday, June 5th. Finally, UBS AG reiterated a buy rating and issued a $70.00 target price on shares of Halliburton in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $59.13.
Shares of Halliburton (HAL) opened at 38.97 on Monday. The firm’s market cap is $33.97 billion. The firm’s 50-day moving average price is $41.33 and its 200 day moving average price is $46.03. Halliburton has a 1-year low of $38.18 and a 1-year high of $58.78.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for 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 business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS. On average, equities research analysts forecast that Halliburton will post $1.12 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is presently -423.50%.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after buying an additional 8,105,286 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Halliburton by 35.1% in the second quarter. Franklin Resources Inc. now owns 14,813,901 shares of the oilfield services company’s stock worth $632,678,000 after buying an additional 3,844,946 shares in the last quarter. Balyasny Asset Management LLC increased its position in shares of Halliburton by 7,314.7% in the second quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after buying an additional 3,700,084 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Halliburton by 3,294.9% in the second quarter. Janus Henderson Group PLC now owns 3,784,359 shares of the oilfield services company’s stock worth $161,631,000 after buying an additional 3,672,887 shares in the last quarter. 79.52% of the stock is 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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