Halliburton (HAL) Lowered to “Hold” at Societe Generale

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Societe Generale downgraded shares of Halliburton (NYSE:HAL) from a buy rating to a hold rating in a report released on Friday, The Fly reports. They currently have $43.00 price target on the oilfield services company’s stock.

HAL has been the subject of a number of other research reports. B. Riley set a $51.00 price objective on Halliburton and gave the stock a buy rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Halliburton from a hold rating to a buy rating and set a $51.00 target price on the stock in a research report on Tuesday, June 26th. Raymond James decreased their target price on Halliburton from $59.00 to $55.00 and set a strong-buy rating on the stock in a research report on Tuesday, September 11th. Credit Suisse Group set a $52.00 target price on Halliburton and gave the stock a buy rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. set a $60.00 target price on Halliburton and gave the stock a buy rating in a research report on Monday, September 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $53.56.

Shares of HAL traded down $0.15 during trading hours on Friday, hitting $39.60. The stock had a trading volume of 7,750,654 shares, compared to its average volume of 8,868,158. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.24 and a quick ratio of 1.72. Halliburton has a 12 month low of $35.75 and a 12 month high of $57.86. The firm has a market capitalization of $35.66 billion, a P/E ratio of 32.46, a PEG ratio of 2.54 and a beta of 1.01.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue was up 24.0% on a year-over-year basis. Analysts expect that Halliburton will post 1.99 EPS for the current fiscal year.

In other Halliburton news, Director Murry Gerber purchased 5,800 shares of Halliburton stock in a transaction dated Thursday, July 26th. The shares were purchased at an average cost of $40.66 per share, for a total transaction of $235,828.00. Following the completion of the acquisition, the director now owns 60,961 shares in the company, valued at approximately $2,478,674.26. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James S. Brown sold 15,989 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bayesian Capital Management LP purchased a new stake in shares of Halliburton during the 1st quarter valued at $549,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Halliburton by 4.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,366,634 shares of the oilfield services company’s stock valued at $64,150,000 after purchasing an additional 51,942 shares during the last quarter. Ostrum Asset Management purchased a new stake in shares of Halliburton during the 1st quarter valued at $280,000. United Capital Financial Advisers LLC lifted its holdings in shares of Halliburton by 6.0% during the 1st quarter. United Capital Financial Advisers LLC now owns 72,962 shares of the oilfield services company’s stock valued at $3,425,000 after purchasing an additional 4,150 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Halliburton by 60.3% during the 1st quarter. LPL Financial LLC now owns 187,032 shares of the oilfield services company’s stock valued at $8,779,000 after purchasing an additional 70,326 shares during the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

Read More: What are the components of an earnings report?

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Analyst Recommendations for Halliburton (NYSE:HAL)

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