Traders Buy Shares of Halliburton Company (HAL) on Weakness
Investors bought shares of Halliburton Company (NYSE:HAL) on weakness during trading on Tuesday. $55.73 million flowed into the stock on the tick-up and $37.87 million flowed out of the stock on the tick-down, for a money net flow of $17.86 million into the stock. Of all equities tracked, Halliburton had the 26th highest net in-flow for the day. Halliburton traded down ($0.36) for the day and closed at $39.55
Several research analysts have recently commented on the stock. UBS AG reissued a “buy” rating and issued a $70.00 price objective on shares of Halliburton in a research note on Monday, May 15th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, June 24th. Credit Suisse Group AG set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, FBR & Co decreased their price target on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Halliburton currently has a consensus rating of “Buy” and a consensus target price of $59.60.
The firm’s market cap is $34.47 billion. The company has a 50 day moving average of $42.52 and a 200-day moving average of $47.39.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share 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 analysts’ expectations of $4.86 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was up 29.3% on a year-over-year basis. Equities research analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid 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 yield of 1.82%. Halliburton’s dividend payout ratio is currently -423.50%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Halliburton during the first quarter valued at $100,000. Perigon Wealth Management LLC boosted its position 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 valued at $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank boosted its position 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 valued at $106,000 after buying an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position 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 valued at $115,000 after buying an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position 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 valued at $116,000 after buying an additional 1,266 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.
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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