Halliburton Company (NYSE:HAL) Earns Buy Rating from UBS AG
UBS AG reissued their buy rating on shares of Halliburton Company (NYSE:HAL) in a research report report published on Tuesday, www.flashratings.com reports. The firm currently has a $62.00 price target on the oilfield services company’s stock, down from their prior price target of $70.00.
HAL has been the subject of several other research reports. Credit Suisse Group set a $60.00 target price on Halliburton and gave the company a buy rating in a research report on Monday, March 27th. HSBC Holdings plc restated a buy rating and set a $62.00 target price (down previously from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC restated an overweight rating on shares of Halliburton in a research report on Monday, June 26th. Guggenheim lowered Halliburton from a buy rating to a neutral rating in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG restated a buy rating and set a $64.00 target price (down previously from $66.00) on shares of Halliburton in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, four have assigned 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 target price of $58.85.
Shares of Halliburton (HAL) traded down 0.37% during midday trading on Tuesday, reaching $42.93. The company had a trading volume of 8,895,558 shares. The stock has a 50-day moving average of $43.32 and a 200 day moving average of $48.71. Halliburton has a 52 week low of $40.12 and a 52 week high of $58.78. The firm’s market capitalization is $37.31 billion.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, analysts anticipate that Halliburton will post $1.09 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.
In related news, Director William E. Albrecht acquired 8,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were purchased at an average cost of $46.33 per share, with a total value of $370,640.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $370,640. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Halliburton during the first quarter worth $100,000. Perigon Wealth Management LLC bought a new stake in shares of Halliburton during the fourth quarter worth $109,000. Ledyard National Bank raised its stake in shares of Halliburton by 1.1% in the first quarter. Ledyard National Bank now owns 2,319 shares of the oilfield services company’s stock worth $114,000 after buying an additional 25 shares during the period. Bbva Compass Bancshares Inc. raised 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 period. Finally, Independent Portfolio Consultants Inc. raised 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 period. 79.74% 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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