Investors Buy Halliburton (HAL) on Weakness

Share on StockTwits

Traders purchased shares of Halliburton (NYSE:HAL) on weakness during trading hours on Tuesday. $49.06 million flowed into the stock on the tick-up and $31.51 million flowed out of the stock on the tick-down, for a money net flow of $17.55 million into the stock. Of all equities tracked, Halliburton had the 29th highest net in-flow for the day. Halliburton traded down ($0.34) for the day and closed at $40.67

A number of equities research analysts have recently weighed in on the company. Bank of America raised Halliburton from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday, May 10th. Wells Fargo & Co reissued a “buy” rating on shares of Halliburton in a research note on Friday, June 29th. Zacks Investment Research raised Halliburton from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, June 26th. ValuEngine lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Finally, B. Riley set a $51.00 target price on Halliburton and gave the company a “buy” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.82.

The firm has a market cap of $35.91 billion, a PE ratio of 33.38, a PEG ratio of 2.34 and a beta of 0.96. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 1.18.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Halliburton had a net margin of 0.42% and a return on equity of 19.48%. The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. analysts forecast that Halliburton will post 2.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.77%. Halliburton’s dividend payout ratio is presently 59.02%.

In other Halliburton news, Director Murry Gerber purchased 5,800 shares of Halliburton stock in a transaction that occurred on Thursday, July 26th. The shares were bought at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the acquisition, the director now directly owns 60,961 shares in the company, valued at $2,478,674.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in HAL. Steward Partners Investment Advisory LLC grew its holdings in shares of Halliburton by 11.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 56,146 shares of the oilfield services company’s stock worth $2,530,000 after acquiring an additional 5,745 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Halliburton by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 265,937 shares of the oilfield services company’s stock worth $11,983,000 after acquiring an additional 23,468 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Halliburton by 10.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 617,412 shares of the oilfield services company’s stock worth $27,821,000 after acquiring an additional 56,586 shares during the period. General American Investors Co. Inc. grew its holdings in shares of Halliburton by 6.0% during the 2nd quarter. General American Investors Co. Inc. now owns 445,000 shares of the oilfield services company’s stock worth $20,052,000 after acquiring an additional 25,000 shares during the period. Finally, Chicago Equity Partners LLC grew its holdings in shares of Halliburton by 25.9% during the 1st quarter. Chicago Equity Partners LLC now owns 118,765 shares of the oilfield services company’s stock worth $5,575,000 after acquiring an additional 24,435 shares during the period. Institutional investors own 79.01% of the company’s stock.

Halliburton Company Profile (NYSE:HAL)

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.

Featured Story: How do investors use RSI to grade stocks?

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply