Halliburton Co. (NYSE:HAL) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $55.00 price target on the oilfield services company’s stock. Societe Generale’s price target points to a potential upside of 23.35% from the company’s previous close.
A number of other equities research analysts have also recently commented on HAL. Jefferies Group reiterated a “buy” rating and set a $56.00 price target (up previously from $47.00) on shares of Halliburton in a report on Monday, July 11th. Seaport Global Securities reiterated a “buy” rating on shares of Halliburton in a report on Thursday, July 21st. Johnson Rice reiterated an “accumulate” rating on shares of Halliburton in a report on Monday, July 25th. Scotiabank reiterated a “sector perform” rating and set a $45.00 price target (up previously from $37.00) on shares of Halliburton in a report on Wednesday, June 15th. Finally, Nomura reiterated a “buy” rating and set a $53.00 price target on shares of Halliburton in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.78.
Shares of Halliburton (NYSE:HAL) opened at 44.59 on Monday. The firm’s 50-day moving average is $43.41 and its 200-day moving average is $42.03. The company’s market cap is $38.40 billion. Halliburton has a one year low of $27.64 and a one year high of $46.90.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was down 35.2% on a year-over-year basis. On average, equities analysts anticipate that Halliburton will post ($0.18) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.61%. Halliburton’s dividend payout ratio is currently -10.86%.
Large investors have recently bought and sold shares of the stock. Washington Trust Bank raised its stake in Halliburton by 2.6% in the third quarter. Washington Trust Bank now owns 41,667 shares of the oilfield services company’s stock valued at $1,870,000 after buying an additional 1,069 shares in the last quarter. Cullinan Associates Inc. raised its stake in Halliburton by 28.8% in the third quarter. Cullinan Associates Inc. now owns 8,500 shares of the oilfield services company’s stock valued at $381,000 after buying an additional 1,900 shares in the last quarter. Cacti Asset Management LLC raised its stake in Halliburton by 2.1% in the third quarter. Cacti Asset Management LLC now owns 684,191 shares of the oilfield services company’s stock valued at $30,706,000 after buying an additional 14,075 shares in the last quarter. Evercore Wealth Management LLC raised its stake in Halliburton by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 2,864 shares of the oilfield services company’s stock valued at $130,000 after buying an additional 69 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Halliburton during the second quarter valued at approximately $1,571,000. Institutional investors and hedge funds own 79.64% of the company’s stock.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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