Investors Buy Shares of Halliburton (HAL) on Weakness

Investors bought shares of Halliburton (NYSE:HAL) on weakness during trading on Thursday. $70.76 million flowed into the stock on the tick-up and $37.37 million flowed out of the stock on the tick-down, for a money net flow of $33.39 million into the stock. Of all companies tracked, Halliburton had the 26th highest net in-flow for the day. Halliburton traded down ($1.04) for the day and closed at $35.37

A number of brokerages recently issued reports on HAL. Guggenheim set a $50.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Wednesday, October 24th. Macquarie set a $40.00 target price on shares of Halliburton and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. Credit Suisse Group set a $46.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. BMO Capital Markets decreased their target price on shares of Halliburton from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Finally, UBS Group set a $50.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Halliburton currently has a consensus rating of “Buy” and a consensus target price of $51.60.

The firm has a market capitalization of $31.90 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.73 and a current ratio of 2.31.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. Halliburton’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts expect that Halliburton will post 1.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.06%. Halliburton’s dividend payout ratio (DPR) is presently 59.02%.

In other news, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total transaction of $648,034.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Anne L. Beaty sold 1,210 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $36.23, for a total transaction of $43,838.30. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Halliburton by 0.5% in the third quarter. BlackRock Inc. now owns 57,999,184 shares of the oilfield services company’s stock valued at $2,350,708,000 after buying an additional 313,663 shares during the period. Sanders Capital LLC lifted its holdings in Halliburton by 24.8% in the third quarter. Sanders Capital LLC now owns 19,776,422 shares of the oilfield services company’s stock valued at $883,006,000 after buying an additional 3,932,014 shares during the period. Macquarie Group Ltd. lifted its holdings in Halliburton by 3.8% in the second quarter. Macquarie Group Ltd. now owns 14,579,725 shares of the oilfield services company’s stock valued at $656,962,000 after buying an additional 531,196 shares during the period. Northern Trust Corp lifted its holdings in Halliburton by 0.5% in the second quarter. Northern Trust Corp now owns 10,303,279 shares of the oilfield services company’s stock valued at $464,265,000 after buying an additional 53,426 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Halliburton by 59.1% in the third quarter. American Century Companies Inc. now owns 6,982,458 shares of the oilfield services company’s stock valued at $282,999,000 after buying an additional 2,593,541 shares during the period. Institutional investors and hedge funds own 79.62% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This story was first posted by WKRB News and is owned by of WKRB News. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.wkrb13.com/2018/11/10/investors-buy-shares-of-halliburton-hal-on-weakness-2.html.

About Halliburton (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.

Read More: How can you know how many shares are floating?

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply