Halliburton (NYSE:HAL) Stock Rating Lowered by StockNews.com

Halliburton (NYSE:HAL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other research analysts also recently commented on the company. Wells Fargo & Company cut their target price on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. TD Cowen lifted their price target on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Susquehanna reiterated a “positive” rating and set a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. The Goldman Sachs Group lifted their price target on Halliburton from $46.00 to $48.00 in a research report on Tuesday, April 23rd. Finally, Benchmark reiterated a “buy” rating and set a $45.00 price target on shares of Halliburton in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.06.

Halliburton Trading Down 1.5 %

Shares of Halliburton stock opened at $32.93 on Monday. Halliburton has a 1 year low of $30.04 and a 1 year high of $43.85. The firm has a market cap of $29.15 billion, a PE ratio of 11.39, a P/E/G ratio of 0.84 and a beta of 1.93. The stock has a fifty day moving average price of $36.79 and a 200-day moving average price of $36.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Halliburton will post 3.39 EPS for the current year.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $369,200.00. Following the transaction, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $369,200.00. Following the transaction, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares in the company, valued at $1,486,845. The disclosure for this sale can be found here. Insiders have sold 52,287 shares of company stock valued at $1,930,704 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of Halliburton during the first quarter valued at approximately $26,000. IAG Wealth Partners LLC purchased a new position in shares of Halliburton during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $33,000. Ancora Advisors LLC boosted its position in shares of Halliburton by 443.8% during the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $36,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Halliburton

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.