Traders Buy Halliburton Company (HAL) on Weakness
Investors bought shares of Halliburton Company (NYSE:HAL) on weakness during trading on Wednesday. $100.28 million flowed into the stock on the tick-up and $55.16 million flowed out of the stock on the tick-down, for a money net flow of $45.12 million into the stock. Of all equities tracked, Halliburton had the 10th highest net in-flow for the day. Halliburton traded down ($1.25) for the day and closed at $41.69
HAL has been the subject of a number of research analyst reports. ValuEngine cut shares of Halliburton from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC set a $56.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research raised shares of Halliburton from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. The Goldman Sachs Group, Inc. reissued a “buy” rating on shares of Halliburton in a report on Saturday, July 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $53.00 target price on shares of Halliburton in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Halliburton has a consensus rating of “Buy” and an average price target of $57.55.
The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $36,220.00, a P/E ratio of 57.11, a P/E/G ratio of 4.50 and a beta of 1.05.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm earned $0.01 earnings per share. Halliburton’s quarterly revenue was up 42.0% compared to the same quarter last year. equities research analysts expect that Halliburton Company will post 1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 6th. Halliburton’s dividend payout ratio (DPR) is 300.00%.
In other news, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the sale, the chairman now directly owns 490,143 shares of the company’s stock, valued at approximately $21,419,249.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Halliburton by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after acquiring an additional 1,267,141 shares during the period. BlackRock Inc. raised its stake in shares of Halliburton by 7.6% in the 2nd quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after acquiring an additional 3,955,245 shares during the period. Capital World Investors raised its stake in shares of Halliburton by 0.7% in the 2nd quarter. Capital World Investors now owns 47,713,255 shares of the oilfield services company’s stock valued at $2,037,833,000 after acquiring an additional 320,362 shares during the period. Ameriprise Financial Inc. increased its stake in Halliburton by 9.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,051,088 shares of the oilfield services company’s stock worth $784,822,000 after buying an additional 1,427,985 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Halliburton by 2.5% during the 3rd quarter. Macquarie Group Ltd. now owns 15,931,445 shares of the oilfield services company’s stock worth $733,325,000 after buying an additional 384,565 shares during the period. 79.94% of the stock is currently owned by institutional investors and hedge funds.
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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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