Halliburton (NYSE:HAL) Receives Average Rating of “Buy” from Analysts

Halliburton (NYSE:HALGet Rating) has been assigned an average rating of “Buy” from the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.44.

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Halliburton from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, March 31st. BMO Capital Markets lifted their price objective on shares of Halliburton from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Tuesday, January 25th. JPMorgan Chase & Co. lifted their price objective on shares of Halliburton from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, January 25th. Susquehanna Bancshares lifted their price objective on shares of Halliburton from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, January 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Halliburton from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, January 25th.

Shares of HAL stock traded up $0.65 during mid-day trading on Friday, reaching $40.18. 449,729 shares of the company were exchanged, compared to its average volume of 13,707,855. Halliburton has a fifty-two week low of $17.82 and a fifty-two week high of $40.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.76 and a current ratio of 2.31. The company has a market capitalization of $36.18 billion, a P/E ratio of 24.47 and a beta of 2.42. The business’s 50 day simple moving average is $35.22 and its 200 day simple moving average is $28.40.

Halliburton (NYSE:HALGet Rating) last released its quarterly earnings results on Monday, January 24th. The oilfield services company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.09 billion. Halliburton had a net margin of 9.53% and a return on equity of 16.76%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, analysts forecast that Halliburton will post 1.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 2nd were paid a dividend of $0.12 per share. This is a boost from Halliburton’s previous quarterly dividend of $0.05. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, March 1st. Halliburton’s payout ratio is currently 29.45%.

In other Halliburton news, CAO Charles Jr. Geer sold 3,500 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $35.00, for a total value of $122,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joe D. Rainey sold 14,000 shares of the business’s stock in a transaction dated Friday, January 14th. The stock was sold at an average price of $28.50, for a total transaction of $399,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,772 shares of company stock worth $8,622,182. 0.61% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HAL. Rather & Kittrell Inc. purchased a new position in Halliburton in the 4th quarter worth about $25,000. City State Bank purchased a new position in Halliburton in the 4th quarter worth about $25,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Halliburton in the 3rd quarter worth about $26,000. MCF Advisors LLC increased its stake in Halliburton by 265.3% in the 3rd quarter. MCF Advisors LLC now owns 1,472 shares of the oilfield services company’s stock worth $32,000 after purchasing an additional 1,069 shares in the last quarter. Finally, UMB Bank N A MO purchased a new position in Halliburton in the 4th quarter worth about $37,000. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

About Halliburton (Get Rating)

Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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