Halliburton (NYSE:HAL) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Halliburton (NYSE:HALFree Report) from a buy rating to a hold rating in a report published on Monday morning.

Several other equities research analysts also recently weighed in on HAL. Benchmark reaffirmed a buy rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday, April 24th. Wells Fargo & Company cut their target price on shares of Halliburton from $50.00 to $49.00 and set an overweight rating on the stock in a research note on Monday, April 29th. TD Cowen upped their target price on shares of Halliburton from $47.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their target price on shares of Halliburton from $49.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Citigroup upped their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Halliburton presently has an average rating of Moderate Buy and an average target price of $49.06.

Get Our Latest Analysis on HAL

Halliburton Price Performance

Halliburton stock opened at $33.33 on Monday. The company’s 50 day simple moving average is $36.47 and its 200-day simple moving average is $36.39. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.93. Halliburton has a 1 year low of $30.04 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12.

Halliburton (NYSE:HALGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that Halliburton will post 3.39 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, June 5th. Halliburton’s payout ratio is 23.53%.

Insider Activity

In other news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the completion of the transaction, the executive vice president now owns 283,908 shares in the company, valued at approximately $10,481,883.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares in the company, valued at approximately $4,828,508.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total transaction of $369,200.00. Following the sale, the executive vice president now owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,287 shares of company stock worth $1,930,704. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

A number of large investors have recently bought and sold shares of HAL. Rise Advisors LLC acquired a new stake in Halliburton during the 1st quarter worth $26,000. IAG Wealth Partners LLC purchased a new position in Halliburton during the 1st quarter worth $30,000. Johnson Financial Group Inc. purchased a new position in Halliburton during the 4th quarter worth $33,000. Ancora Advisors LLC raised its position in Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after buying an additional 719 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Halliburton during the 4th quarter worth $36,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

(Get Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.

See Also

Analyst Recommendations for Halliburton (NYSE:HAL)

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.