Halliburton (HAL) Shares Gap Down to $23.51

Halliburton (NYSE:HAL) shares gapped down before the market opened on Friday . The stock had previously closed at $22.84, but opened at $23.51. Halliburton shares last traded at $22.97, with a volume of 5688802 shares.

A number of research firms recently weighed in on HAL. Zacks Investment Research downgraded Halliburton from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Barclays decreased their price objective on Halliburton from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Seaport Global Securities set a $49.00 price objective on Halliburton and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group set a $36.00 price objective on Halliburton and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, SunTrust Banks decreased their price objective on Halliburton to $39.00 and set an “average” rating for the company in a report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $44.71.

The company has a debt-to-equity ratio of 1.07, a current ratio of 2.22 and a quick ratio of 1.57. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.38 and a beta of 1.14.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the business posted $0.41 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Halliburton will post 1.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. Halliburton’s payout ratio is currently 37.89%.

In other Halliburton news, CFO Lance Loeffler sold 5,926 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.35, for a total transaction of $168,002.10. Following the completion of the sale, the chief financial officer now directly owns 55,885 shares in the company, valued at approximately $1,584,339.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HAL. Ellis Investment Partners LLC bought a new position in shares of Halliburton during the 1st quarter worth about $25,000. One Wealth Advisors LLC bought a new position in shares of Halliburton during the 1st quarter worth about $25,000. SevenBridge Financial Group LLC boosted its position in shares of Halliburton by 387.5% during the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after purchasing an additional 775 shares in the last quarter. Essex Savings Bank bought a new position in shares of Halliburton during the 4th quarter worth about $27,000. Finally, Coastal Investment Advisors Inc. bought a new position in shares of Halliburton during the 1st quarter worth about $28,000. 80.65% of the stock is currently owned by institutional investors.

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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.

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