Halliburton (HAL) Stock Rating Lowered by Cleveland Research

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Cleveland Research cut shares of Halliburton (NYSE:HAL) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat Ratings reports.

HAL has been the subject of a number of other research reports. ValuEngine upgraded Halliburton from a sell rating to a hold rating in a research note on Thursday, October 4th. HSBC reduced their price objective on Halliburton to $51.00 and set a buy rating for the company in a research note on Monday, October 8th. Citigroup reduced their price objective on Halliburton from $61.00 to $53.00 and set a buy rating for the company in a research note on Monday, June 25th. Credit Suisse Group set a $51.00 price objective on Halliburton and gave the company a buy rating in a research note on Thursday, September 6th. Finally, Raymond James reduced their price objective on Halliburton from $62.00 to $59.00 and set a strong-buy rating for the company in a research note on Tuesday, July 24th. Six 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 stock. Halliburton has an average rating of Buy and a consensus target price of $53.56.

HAL stock traded down $0.17 during midday trading on Thursday, reaching $37.83. The stock had a trading volume of 997,062 shares, compared to its average volume of 8,925,537. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. 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 52-week low of $35.75 and a 52-week high of $57.86.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. As a group, equities research analysts expect that Halliburton will post 1.97 earnings per share for the current year.

In other news, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.53, for a total transaction of $648,034.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Murry Gerber bought 5,800 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the completion of the transaction, the director now directly owns 60,961 shares in the company, valued at $2,478,674.26. The disclosure for this purchase can be found here. 0.54% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of HAL. Avestar Capital LLC boosted its holdings in Halliburton by 1,159.6% in the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after buying an additional 2,180 shares during the last quarter. Sun Life Financial INC boosted its holdings in shares of Halliburton by 1,170.1% during the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after purchasing an additional 2,188 shares during the last quarter. Squar Milner Financial Services LLC acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $130,000. Banco de Sabadell S.A acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $136,000. Finally, Trust Co. of Vermont boosted its holdings in shares of Halliburton by 58.5% during the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock worth $137,000 after purchasing an additional 1,116 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Halliburton

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.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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