Traders Sell Shares of Halliburton (HAL) on Strength on Analyst Downgrade

Investors sold shares of Halliburton (NYSE:HAL) on strength during trading hours on Wednesday after Barclays lowered their price target on the stock from $64.00 to $62.00. $44.03 million flowed into the stock on the tick-up and $69.01 million flowed out of the stock on the tick-down, for a money net flow of $24.98 million out of the stock. Of all companies tracked, Halliburton had the 26th highest net out-flow for the day. Halliburton traded up $0.38 for the day and closed at $51.75

Other equities research analysts have also issued research reports about the stock. Jefferies Group set a $65.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Loop Capital reissued a “buy” rating and issued a $69.00 price objective (up previously from $57.00) on shares of Halliburton in a research report on Tuesday, January 23rd. BMO Capital Markets set a $63.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Sanford C. Bernstein set a $60.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, JPMorgan Chase set a $60.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. Halliburton currently has an average rating of “Buy” and an average target price of $58.71.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Halliburton by 3.9% during the 4th quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock valued at $3,119,761,000 after acquiring an additional 2,421,658 shares during the last quarter. Jennison Associates LLC boosted its stake in Halliburton by 1.5% during the 4th quarter. Jennison Associates LLC now owns 8,857,279 shares of the oilfield services company’s stock valued at $432,855,000 after acquiring an additional 130,567 shares during the last quarter. Geode Capital Management LLC boosted its stake in Halliburton by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,541,673 shares of the oilfield services company’s stock valued at $416,483,000 after acquiring an additional 107,367 shares during the last quarter. American Century Companies Inc. boosted its stake in Halliburton by 37.7% during the 4th quarter. American Century Companies Inc. now owns 6,153,365 shares of the oilfield services company’s stock valued at $300,715,000 after acquiring an additional 1,684,961 shares during the last quarter. Finally, Aristotle Capital Management LLC boosted its stake in Halliburton by 1.0% during the 4th quarter. Aristotle Capital Management LLC now owns 4,656,520 shares of the oilfield services company’s stock valued at $227,564,000 after acquiring an additional 44,274 shares during the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 1.24. The company has a market cap of $45,539.06, a P/E ratio of 42.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, April 23rd. The oilfield services company reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. Halliburton had a negative net margin of 1.74% and a positive return on equity of 15.87%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the prior year, the firm posted $0.04 EPS. The firm’s revenue was up 34.1% compared to the same quarter last year. sell-side analysts expect that Halliburton will post 2.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, March 6th. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. Halliburton’s dividend payout ratio (DPR) is 59.02%.

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About Halliburton

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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