Investors Buy Halliburton Company (NYSE:HAL) on Weakness
Investors purchased shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Thursday. $63.72 million flowed into the stock on the tick-up and $33.47 million flowed out of the stock on the tick-down, for a money net flow of $30.25 million into the stock. Of all companies tracked, Halliburton had the 28th highest net in-flow for the day. Halliburton traded down ($0.78) for the day and closed at $40.51
Several research analysts have commented on HAL shares. HSBC Holdings plc restated a “buy” rating and issued a $62.00 price objective (down from $65.00) on shares of Halliburton in a report on Thursday, June 22nd. Barclays PLC restated an “overweight” rating on shares of Halliburton in a report on Monday, June 26th. Guggenheim lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $59.60.
The firm has a 50-day moving average of $42.69 and a 200 day moving average of $47.89. The firm’s market cap is $35.31 billion.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Zacks’ 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 previous year, the firm earned ($0.14) earnings per share. The company’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts expect that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. Halliburton’s payout ratio is -423.50%.
In other Halliburton news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $370,640. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. CENTRAL TRUST Co raised its stake in shares of Halliburton by 71.3% in the first quarter. CENTRAL TRUST Co now owns 8,173 shares of the oilfield services company’s stock worth $402,000 after buying an additional 3,403 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Halliburton by 1.8% in the first quarter. Quadrant Capital Group LLC now owns 3,480 shares of the oilfield services company’s stock worth $159,000 after buying an additional 60 shares in the last quarter. National Pension Service raised its stake in shares of Halliburton by 2.0% in the first quarter. National Pension Service now owns 657,798 shares of the oilfield services company’s stock worth $32,245,000 after buying an additional 12,935 shares in the last quarter. Murphy Capital Management Inc. raised its stake in shares of Halliburton by 29.3% in the first quarter. Murphy Capital Management Inc. now owns 8,828 shares of the oilfield services company’s stock worth $434,000 after buying an additional 2,000 shares in the last quarter. Finally, CrestPoint Capital Management LLC raised its stake in shares of Halliburton by 206.5% in the first quarter. CrestPoint Capital Management LLC now owns 14,100 shares of the oilfield services company’s stock worth $694,000 after buying an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.
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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