Halliburton (HAL) Cut to Hold at Societe Generale
Halliburton (NYSE:HAL) was downgraded by stock analysts at Societe Generale from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports. They currently have a $43.00 price objective on the oilfield services company’s stock. Societe Generale’s target price indicates a potential upside of 8.59% from the company’s current price.
Other research analysts also recently issued reports about the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a research report on Friday, June 29th. Zacks Investment Research raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Tuesday, June 26th. B. Riley set a $51.00 target price on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, July 26th. Stifel Nicolaus initiated coverage on shares of Halliburton in a research note on Monday, September 10th. They set a “buy” rating and a $45.00 price target for the company. Finally, Royal Bank of Canada set a $54.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.56.
NYSE HAL opened at $39.60 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $35.66 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.54 and a beta of 1.01. Halliburton has a 12 month low of $35.75 and a 12 month high of $57.86.
In other news, Director Murry Gerber bought 5,800 shares of Halliburton stock in a transaction dated Thursday, July 26th. The stock was bought at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the purchase, the director now owns 60,961 shares of the company’s stock, valued at $2,478,674.26. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total transaction of $648,034.17. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Avestar Capital LLC increased its holdings in shares of Halliburton by 1,159.6% in the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after purchasing an additional 2,180 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Halliburton by 1,170.1% in the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after purchasing an additional 2,188 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new position in shares of Halliburton in the 1st quarter valued at about $129,000. Squar Milner Financial Services LLC purchased a new position in shares of Halliburton in the 2nd quarter valued at about $130,000. Finally, Banco de Sabadell S.A purchased a new position in shares of Halliburton in the 2nd quarter valued at about $136,000. Institutional investors own 78.84% of the company’s stock.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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