Halliburton (NYSE:HAL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Halliburton’s shares have outperformed the Zacks Oil & Gas Field Services industry over the past 6 months (up 18.2% vs. 8%). This price performance is backed by phenomenal earnings surprise history, with HAL having surpassed expectations in all the trailing 14 quarters. The world’s No. 2 oilfield-services provider's consistently strong numbers could be attributed to improved utilization and pricing gains in North America. Of late, HAL has also been aided by margin expansion at its drilling and evaluation product lines, while the international market continues to improve. However, cost inflation triggered by increased fracking sand pricing is likely to dampen investor confidence. Moreover, with the failure of BHI acquisition, HAL had to book a massive $3.5 billion in breakup charges that stretched its balance sheet. Hence, we advise investors to wait for a better entry point before buying shares in HAL.”
HAL has been the subject of a number of other reports. BMO Capital Markets set a $63.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. ValuEngine raised Halliburton from a “sell” rating to a “hold” rating in a research report on Thursday, April 12th. Loop Capital reissued a “buy” rating and issued a $69.00 target price (up from $57.00) on shares of Halliburton in a research report on Tuesday, January 23rd. Jefferies Group set a $57.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Sanford C. Bernstein set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $58.65.
NYSE:HAL opened at $52.01 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.22 and a quick ratio of 1.72. Halliburton has a 1 year low of $38.18 and a 1 year high of $57.86. The firm has a market capitalization of $44,524.16, a price-to-earnings ratio of 42.63, a PEG ratio of 2.54 and a beta of 1.06.
Halliburton (NYSE:HAL) last released its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period last year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. equities research analysts predict that Halliburton will post 2.51 EPS for the current fiscal year.
In related news, Director Jeffrey Allen Miller sold 29,025 shares of Halliburton stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $55.00, for a total transaction of $1,596,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robb L. Voyles sold 39,287 shares of Halliburton stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $55.00, for a total value of $2,160,785.00. The disclosure for this sale can be found here. Insiders have sold 72,895 shares of company stock valued at $4,008,996 in the last three months. 0.54% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of HAL. Sanders Capital LLC bought a new stake in Halliburton during the fourth quarter valued at $163,920,000. Beutel Goodman & Co Ltd. bought a new stake in Halliburton during the fourth quarter valued at $118,644,000. BlackRock Inc. boosted its stake in Halliburton by 3.9% during the fourth quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock valued at $3,119,761,000 after buying an additional 2,421,658 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in Halliburton during the fourth quarter valued at $105,979,000. Finally, Mackenzie Financial Corp boosted its stake in Halliburton by 409.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,203,182 shares of the oilfield services company’s stock valued at $107,670,000 after buying an additional 1,770,781 shares during the period. 80.25% of the stock is owned by institutional investors.
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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.
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