Halliburton (NYSE:HAL) Raised to Strong-Buy at Rothschild Redb

Halliburton (NYSE:HAL) was upgraded by equities researchers at Rothschild Redb to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on HAL. Citigroup reiterated a “buy” rating on shares of Halliburton in a research report on Tuesday, October 14th. Royal Bank Of Canada raised Halliburton from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 22nd. Zacks Research raised Halliburton from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Wells Fargo & Company reduced their target price on Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Finally, Redburn Partners set a $35.00 target price on Halliburton in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $31.73.

Halliburton Trading Down 1.3%

NYSE:HAL opened at $26.82 on Monday. The firm has a market cap of $22.57 billion, a PE ratio of 17.76 and a beta of 1.02. The stock has a fifty day moving average price of $23.84 and a 200 day moving average price of $22.12. Halliburton has a 12-month low of $18.72 and a 12-month high of $32.57. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.70.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $0.73 EPS. Halliburton’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Halliburton will post 2.64 earnings per share for the current fiscal year.

Institutional Trading of Halliburton

Several large investors have recently modified their holdings of HAL. D.A. Davidson & CO. grew its stake in shares of Halliburton by 24.1% during the first quarter. D.A. Davidson & CO. now owns 44,453 shares of the oilfield services company’s stock valued at $1,128,000 after acquiring an additional 8,626 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in Halliburton in the first quarter worth about $213,000. Envestnet Asset Management Inc. grew its stake in Halliburton by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 402,532 shares of the oilfield services company’s stock worth $10,212,000 after purchasing an additional 13,291 shares in the last quarter. Brown Advisory Inc. grew its stake in Halliburton by 12.0% in the first quarter. Brown Advisory Inc. now owns 23,712 shares of the oilfield services company’s stock worth $602,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Greenleaf Trust grew its stake in Halliburton by 17.0% in the first quarter. Greenleaf Trust now owns 16,508 shares of the oilfield services company’s stock worth $419,000 after purchasing an additional 2,399 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Company Profile

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.