Halliburton (HAL) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Halliburton (NYSE:HAL) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating on the oilfield services company’s stock.

A number of other brokerages have also recently weighed in on HAL. B. Riley set a $51.00 target price on Halliburton and gave the company a buy rating in a report on Thursday, July 26th. Zacks Investment Research upgraded Halliburton from a hold rating to a buy rating and set a $51.00 target price on the stock in a report on Tuesday, June 26th. Raymond James reduced their target price on Halliburton from $59.00 to $55.00 and set a strong-buy rating on the stock in a report on Tuesday, September 11th. Credit Suisse Group set a $52.00 target price on Halliburton and gave the company a buy rating in a report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. set a $60.00 target price on Halliburton and gave the company a buy rating in a report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Halliburton currently has an average rating of Buy and a consensus target price of $53.56.

HAL stock opened at $37.54 on Wednesday. Halliburton has a 52-week low of $35.75 and a 52-week high of $57.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.72 and a current ratio of 2.24. The firm has a market cap of $33.44 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the business earned $0.23 EPS. Halliburton’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, equities research analysts predict that Halliburton will post 1.97 EPS for the current fiscal year.

In other Halliburton news, Director Murry Gerber bought 5,800 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average cost of $40.66 per share, with a total value of $235,828.00. Following the completion of the transaction, the director now owns 60,961 shares in the company, valued at $2,478,674.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Avestar Capital LLC increased its position in shares of Halliburton by 1,159.6% during the second quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after acquiring an additional 2,180 shares during the last quarter. Sun Life Financial INC increased its holdings in Halliburton by 1,170.1% in the second quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 2,188 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in Halliburton in the first quarter valued at about $129,000. Squar Milner Financial Services LLC bought a new stake in Halliburton in the second quarter valued at about $130,000. Finally, Banco de Sabadell S.A bought a new stake in Halliburton in the second quarter valued at about $136,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Halliburton (NYSE:HAL)

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