Traders Buy Halliburton (HAL) on Weakness
Traders bought shares of Halliburton (NYSE:HAL) on weakness during trading on Wednesday. $95.83 million flowed into the stock on the tick-up and $58.63 million flowed out of the stock on the tick-down, for a money net flow of $37.20 million into the stock. Of all companies tracked, Halliburton had the 15th highest net in-flow for the day. Halliburton traded down ($0.40) for the day and closed at $45.71
A number of equities analysts have recently issued reports on HAL shares. Bank of America downgraded Halliburton from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Monday, February 26th. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Friday, March 2nd. Zacks Investment Research raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, March 6th. Cowen set a $54.00 price objective on shares of Halliburton and gave the stock a “hold” rating in a research report on Thursday, March 15th. Finally, Jefferies Financial Group set a $62.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.08.
The company has a current ratio of 2.22, a quick ratio of 1.73 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.35 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. Halliburton’s payout ratio is 59.02%.
Hedge funds have recently added to or reduced their stakes in the business. McKinley Carter Wealth Services Inc. acquired a new stake in Halliburton in the 1st quarter valued at about $129,000. CNB Bank grew its stake in shares of Halliburton by 110.5% in the 1st quarter. CNB Bank now owns 2,991 shares of the oilfield services company’s stock valued at $140,000 after buying an additional 1,570 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Halliburton in the 4th quarter valued at approximately $147,000. Princeton Capital Management LLC purchased a new stake in shares of Halliburton in the 1st quarter valued at approximately $147,000. Finally, Rainier Group Investment Advisory LLC purchased a new stake in shares of Halliburton in the 1st quarter valued at approximately $169,000. Institutional investors own 79.41% of the company’s stock.
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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