Traders Buy Shares of Halliburton Company (HAL) on Weakness
Investors bought shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Wednesday. $64.26 million flowed into the stock on the tick-up and $42.13 million flowed out of the stock on the tick-down, for a money net flow of $22.13 million into the stock. Of all equities tracked, Halliburton had the 31st highest net in-flow for the day. Halliburton traded down ($0.15) for the day and closed at $45.12
Several equities research analysts recently issued reports on the stock. B. Riley restated a “buy” rating on shares of Halliburton in a report on Wednesday, November 1st. Piper Jaffray Companies set a $53.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, October 30th. Citigroup Inc. dropped their target price on shares of Halliburton from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Scotiabank restated a “buy” rating and issued a $52.00 target price on shares of Halliburton in a report on Wednesday, October 25th. Finally, Loop Capital restated a “buy” rating and issued a $57.00 target price (down previously from $62.00) on shares of Halliburton in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $57.55.
The company has a debt-to-equity ratio of 1.13, a current ratio of 2.20 and a quick ratio of 1.67. The stock has a market capitalization of $39,500.00, a P/E ratio of 61.75, a P/E/G ratio of 4.87 and a beta of 1.05.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 42.0% compared to the same quarter last year. sell-side analysts anticipate that Halliburton Company will post 1.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.60%. Halliburton’s dividend payout ratio is presently 300.00%.
In related news, Chairman David J. Lesar sold 50,000 shares of Halliburton stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the sale, the chairman now owns 490,143 shares in the company, valued at approximately $21,419,249.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norinchukin Bank The lifted its holdings in Halliburton by 3.6% during the 3rd quarter. Norinchukin Bank The now owns 108,647 shares of the oilfield services company’s stock valued at $5,001,000 after buying an additional 3,773 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Halliburton by 4.8% during the 3rd quarter. D.A. Davidson & CO. now owns 50,577 shares of the oilfield services company’s stock valued at $2,328,000 after buying an additional 2,304 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Halliburton by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 288,277 shares of the oilfield services company’s stock valued at $13,269,000 after buying an additional 28,200 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Halliburton during the 3rd quarter valued at about $184,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Halliburton by 22.0% in the 3rd quarter. Pacer Advisors Inc. now owns 21,251 shares of the oilfield services company’s stock valued at $978,000 after purchasing an additional 3,838 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.
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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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