Halliburton Company (HAL) Earns “Buy” Rating from Scotiabank
Scotiabank reiterated their buy rating on shares of Halliburton Company (NYSE:HAL) in a research note published on Wednesday morning. Scotiabank currently has a $62.00 target price on the oilfield services company’s stock.
A number of other research firms have also issued reports on HAL. Jefferies Group LLC boosted their price objective on Halliburton Company from $58.00 to $70.00 and gave the company a buy rating in a research note on Friday, January 27th. FBR & Co upped their target price on Halliburton Company from $58.00 to $69.00 and gave the stock an outperform rating in a research note on Monday, January 9th. Royal Bank of Canada restated a buy rating and issued a $65.00 target price on shares of Halliburton Company in a research note on Friday, January 6th. Stephens reiterated an overweight rating and issued a $57.00 price objective on shares of Halliburton Company in a report on Tuesday, January 24th. Finally, Citigroup Inc cut their price objective on Halliburton Company from $65.00 to $63.00 and set a buy rating for the company in a report on Wednesday, January 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $59.69.
Halliburton Company (NYSE:HAL) opened at 47.69 on Wednesday. Halliburton Company has a 12 month low of $38.24 and a 12 month high of $58.78. The company’s 50-day moving average is $50.09 and its 200 day moving average is $51.55. The company’s market cap is $41.34 billion. Halliburton Company also was the recipient of some unusual options trading on Wednesday. Stock investors bought 24,703 call options on the company. This is an increase of approximately 195% compared to the typical daily volume of 8,388 call options.
Halliburton Company (NYSE:HAL) last issued its quarterly earnings results on Monday, January 23rd. The oilfield services company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Halliburton Company had a negative return on equity of 0.15% and a negative net margin of 36.28%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. Equities analysts forecast that Halliburton Company will post $0.98 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st were issued a $0.18 dividend. The ex-dividend date was Monday, February 27th. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. Halliburton Company’s dividend payout ratio (DPR) is -10.75%.
In other Halliburton Company news, Director Jeffrey Allen Miller sold 725 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $50.28, for a total transaction of $36,453.00. Following the completion of the transaction, the director now owns 299,777 shares in the company, valued at $15,072,787.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Myrtle L. Jones sold 874 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $58.04, for a total value of $50,726.96. Following the transaction, the insider now owns 19,810 shares of the company’s stock, valued at approximately $1,149,772.40. The disclosure for this sale can be found here. Insiders sold 5,717 shares of company stock worth $321,990 over the last ninety days. Insiders own 0.46% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TRUE Private Wealth Advisors raised its position in shares of Halliburton Company by 4.7% in the first quarter. TRUE Private Wealth Advisors now owns 8,857 shares of the oilfield services company’s stock valued at $440,000 after buying an additional 400 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Halliburton Company during the first quarter valued at about $385,000. Rothschild Investment Corp IL raised its position in shares of Halliburton Company by 0.3% in the first quarter. Rothschild Investment Corp IL now owns 143,470 shares of the oilfield services company’s stock valued at $7,060,000 after buying an additional 425 shares during the period. Moody National Bank Trust Division raised its position in shares of Halliburton Company by 3.8% in the first quarter. Moody National Bank Trust Division now owns 15,267 shares of the oilfield services company’s stock valued at $752,000 after buying an additional 565 shares during the period. Finally, Boys Arnold & Co. Inc. acquired a new position in shares of Halliburton Company during the first quarter valued at about $201,000. Institutional investors and hedge funds own 79.50% of the company’s stock.
About Halliburton Company
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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