Traders sold shares of Halliburton Company (NYSE:HAL) on strength during trading on Monday. $25.07 million flowed into the stock on the tick-up and $106.95 million flowed out of the stock on the tick-down, for a money net flow of $81.88 million out of the stock. Of all stocks tracked, Halliburton had the 9th highest net out-flow for the day. Halliburton traded up $0.34 for the day and closed at $40.63
HAL has been the topic of several recent analyst reports. TheStreet cut Halliburton from a “c-” rating to a “d+” rating in a report on Thursday, June 29th. Seaport Global Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $50.00 in a research note on Thursday, July 20th. BidaskClub lowered Halliburton from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. FBR & Co lowered their price target on Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Finally, Credit Suisse Group set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $58.74.
The stock’s market capitalization is $35.41 billion. The stock has a 50 day moving average of $40.52 and a 200 day moving average of $45.38.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities research analysts forecast that Halliburton Company will post $1.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.77%. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.
In related news, 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 value of $1,705,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board lifted its position in shares of Halliburton by 42.5% during the first quarter. Canada Pension Plan Investment Board now owns 110,022 shares of the oilfield services company’s stock worth $5,414,000 after purchasing an additional 32,800 shares in the last quarter. Weatherly Asset Management L. P. raised its holdings in Halliburton by 0.6% in the first quarter. Weatherly Asset Management L. P. now owns 84,048 shares of the oilfield services company’s stock valued at $4,136,000 after acquiring an additional 520 shares in the last quarter. Coconut Grove Bank raised its holdings in Halliburton by 35.5% in the first quarter. Coconut Grove Bank now owns 3,055 shares of the oilfield services company’s stock valued at $150,000 after acquiring an additional 800 shares in the last quarter. Advisor Partners LLC raised its holdings in Halliburton by 8.6% in the first quarter. Advisor Partners LLC now owns 13,647 shares of the oilfield services company’s stock valued at $672,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Halliburton in the first quarter valued at $304,000. 79.53% of the stock is currently owned by hedge funds and other 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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