Investors Buy Shares of Halliburton (HAL) on Weakness

Investors bought shares of Halliburton (NYSE:HAL) on weakness during trading on Thursday. $114.02 million flowed into the stock on the tick-up and $58.30 million flowed out of the stock on the tick-down, for a money net flow of $55.72 million into the stock. Of all stocks tracked, Halliburton had the 24th highest net in-flow for the day. Halliburton traded down ($0.89) for the day and closed at $39.75

A number of analysts have issued reports on HAL shares. Morgan Stanley started coverage on shares of Halliburton in a report on Tuesday, September 18th. They issued an “overweight” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Monday, September 17th. Credit Suisse Group set a $51.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, September 6th. Wells Fargo & Co reissued a “buy” rating on shares of Halliburton in a report on Friday, September 7th. Finally, Raymond James cut their price objective on shares of Halliburton from $59.00 to $55.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 11th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $53.56.

The stock has a market cap of $35.66 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.54 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.72 and a current ratio of 2.24.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.12 billion. Halliburton had a net margin of 0.42% and a return on equity of 19.48%. Halliburton’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities research analysts forecast that Halliburton will post 1.99 EPS for the current year.

In other news, insider James S. Brown sold 15,989 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Murry Gerber bought 5,800 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was purchased at an average price of $40.66 per share, with a total value of $235,828.00. Following the completion of the transaction, the director now directly owns 60,961 shares in the company, valued at approximately $2,478,674.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Sanders Capital LLC increased its position in Halliburton by 5.3% during the 2nd quarter. Sanders Capital LLC now owns 15,844,408 shares of the oilfield services company’s stock worth $779,554,000 after purchasing an additional 799,300 shares in the last quarter. Macquarie Group Ltd. increased its position in Halliburton by 3.8% during the 2nd quarter. Macquarie Group Ltd. now owns 14,579,725 shares of the oilfield services company’s stock worth $656,962,000 after purchasing an additional 531,196 shares in the last quarter. Northern Trust Corp increased its position in Halliburton by 0.5% during the 2nd quarter. Northern Trust Corp now owns 10,303,279 shares of the oilfield services company’s stock worth $464,265,000 after purchasing an additional 53,426 shares in the last quarter. Morgan Stanley increased its position in Halliburton by 25.2% during the 2nd quarter. Morgan Stanley now owns 6,879,339 shares of the oilfield services company’s stock worth $309,984,000 after purchasing an additional 1,385,703 shares in the last quarter. Finally, Natixis increased its position in Halliburton by 79.6% during the 2nd quarter. Natixis now owns 3,771,221 shares of the oilfield services company’s stock worth $169,931,000 after purchasing an additional 1,671,817 shares in the last quarter. Institutional investors own 78.84% of the company’s stock.

Halliburton Company Profile (NYSE:HAL)

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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