Investors Buy Shares of Halliburton Company (HAL) on Weakness
Traders purchased shares of Halliburton Company (NYSE:HAL) on weakness during trading on Tuesday. $67.15 million flowed into the stock on the tick-up and $33.43 million flowed out of the stock on the tick-down, for a money net flow of $33.72 million into the stock. Of all equities tracked, Halliburton had the 21st highest net in-flow for the day. Halliburton traded down ($0.19) for the day and closed at $42.74
HAL has been the topic of a number of analyst reports. Piper Jaffray Companies set a $53.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Monday. FBR & Co dropped their price target on Halliburton from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. TheStreet raised Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Deutsche Bank AG initiated coverage on Halliburton in a research report on Tuesday, October 10th. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Cowen and Company set a $50.00 price target on Halliburton and gave the stock a “hold” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Halliburton currently has an average rating of “Buy” and a consensus price target of $57.55.
The company has a 50 day moving average of $43.71 and a 200-day moving average of $43.53. The company’s market capitalization is $37.25 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. Equities research analysts anticipate that Halliburton Company will post $1.13 earnings per share for the current fiscal year.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Financial Group Inc. purchased a new position in Halliburton in the first quarter valued at $100,000. Perigon Wealth Management LLC increased its holdings in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank increased its holdings in Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after buying an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. increased its holdings in Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after buying an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its holdings in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares in the last quarter. 79.36% of the stock is owned by institutional investors.
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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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