Halliburton Co. (NYSE:HAL) released its earnings results on Wednesday. The oilfield services company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion.
Shares of Halliburton (NYSE:HAL) opened at 47.07 on Wednesday. The company’s 50 day moving average is $43.84 and its 200-day moving average is $42.79. The firm’s market capitalization is $40.53 billion. Halliburton has a one year low of $27.64 and a one year high of $47.96.
In other Halliburton news, insider James S. Brown sold 28,439 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Arvest Bank Trust Division acquired a new position in shares of Halliburton during the second quarter valued at about $488,000. Pinkerton Retirement Specialists LLC raised its stake in Halliburton by 1,290.5% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,795 shares of the oilfield services company’s stock worth $127,000 after buying an additional 2,594 shares in the last quarter. Fiera Capital Corp purchased a new stake in Halliburton during the second quarter worth approximately $346,000. Westwood Holdings Group Inc. raised its stake in Halliburton by 3.0% in the second quarter. Westwood Holdings Group Inc. now owns 8,550 shares of the oilfield services company’s stock worth $387,000 after buying an additional 248 shares in the last quarter. Finally, Euclid Advisors LLC purchased a new stake in Halliburton during the second quarter worth approximately $666,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
A number of analysts have weighed in on HAL shares. Loop Capital began coverage on Halliburton in a research note on Friday, September 30th. They issued a “buy” rating on the stock. Vetr lowered Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price target on the stock. in a research note on Tuesday, September 6th. Guggenheim restated a “sell” rating on shares of Halliburton in a research note on Wednesday, August 31st. KeyCorp restated an “overweight” rating and set a $54.00 price target (up previously from $45.00) on shares of Halliburton in a research note on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Halliburton in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.30.
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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