Halliburton Company (NYSE:HAL) Raised to “Hold” at BidaskClub

Halliburton Company (NYSE:HAL) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday, July 19th.

HAL has been the topic of several other reports. BMO Capital Markets set a $67.00 price target on Halliburton and gave the company a “buy” rating in a research report on Wednesday, April 12th. Royal Bank Of Canada set a $65.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Monday, March 27th. Zacks Investment Research lowered Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.60.

Shares of Halliburton (NYSE:HAL) traded down 0.58% during midday trading on Wednesday, reaching $39.32. 6,662,680 shares of the company traded hands. Halliburton has a 1-year low of $39.13 and a 1-year high of $58.78. The stock’s market capitalization is $34.27 billion. The stock’s 50-day moving average is $42.46 and its 200-day moving average is $47.33.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. Halliburton’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. Equities analysts predict that Halliburton will post $1.12 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in HAL. Vanguard Group Inc. boosted its stake in Halliburton by 2.2% in the second quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after buying an additional 1,267,141 shares during the period. BlackRock Inc. boosted its stake in Halliburton by 7.6% in the second quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after buying an additional 3,955,245 shares during the period. Capital World Investors boosted its stake in Halliburton by 0.7% in the second quarter. Capital World Investors now owns 47,713,255 shares of the oilfield services company’s stock valued at $2,037,833,000 after buying an additional 320,362 shares during the period. Wellington Management Group LLP boosted its stake in Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after buying an additional 227,704 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock valued at $667,362,000 after buying an additional 8,105,286 shares during the period. 78.54% of the stock is owned by institutional investors.

About Halliburton

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.