Halliburton’s (HAL) “Outperform” Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reissued their outperform rating on shares of Halliburton (NYSE:HAL) in a report issued on Thursday morning, The Fly reports. Wells Fargo & Co currently has a $56.00 target price on the oilfield services company’s stock, up from their previous target price of $51.00.

HAL has been the subject of several other research reports. Loop Capital reissued a buy rating and set a $57.00 target price (down previously from $62.00) on shares of Halliburton in a research note on Tuesday, October 24th. ValuEngine cut Halliburton from a hold rating to a sell rating in a research note on Friday, September 1st. Scotiabank reissued a buy rating and set a $52.00 target price on shares of Halliburton in a research note on Wednesday, October 25th. J P Morgan Chase & Co cut their target price on Halliburton from $60.00 to $55.00 and set an overweight rating for the company in a research note on Tuesday, September 12th. Finally, Cowen set a $50.00 target price on Halliburton and gave the stock a hold rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Halliburton currently has a consensus rating of Buy and an average price target of $57.47.

Halliburton (HAL) traded down $0.16 during trading hours on Thursday, hitting $48.01. The company had a trading volume of 6,657,263 shares, compared to its average volume of 9,149,566. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20. The firm has a market capitalization of $42,030.30, a PE ratio of 200.05, a PEG ratio of 5.20 and a beta of 1.03. Halliburton has a 12-month low of $38.18 and a 12-month high of $58.78.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. sell-side analysts forecast that Halliburton will post 1.16 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. Halliburton’s dividend payout ratio is currently 300.01%.

In related news, Chairman David J. Lesar sold 50,000 shares of Halliburton stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the transaction, the chairman now directly owns 490,143 shares in the company, valued at $21,419,249.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James S. Brown sold 29,485 shares of Halliburton stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.01, for a total value of $1,297,634.85. Following the completion of the transaction, the insider now owns 129,646 shares of the company’s stock, valued at $5,705,720.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,585 shares of company stock valued at $3,858,920. Company insiders own 0.46% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Estabrook Capital Management boosted its holdings in Halliburton by 82.8% in the second quarter. Estabrook Capital Management now owns 2,760 shares of the oilfield services company’s stock valued at $118,000 after purchasing an additional 1,250 shares during the period. YorkBridge Wealth Partners LLC boosted its holdings in Halliburton by 243.3% in the third quarter. YorkBridge Wealth Partners LLC now owns 3,165 shares of the oilfield services company’s stock valued at $146,000 after purchasing an additional 2,243 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Halliburton in the third quarter valued at $184,000. Bronfman E.L. Rothschild L.P. boosted its holdings in Halliburton by 4.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,251 shares of the oilfield services company’s stock valued at $182,000 after purchasing an additional 167 shares during the period. Finally, Neville Rodie & Shaw Inc. purchased a new position in Halliburton in the third quarter valued at $202,000. Hedge funds and other institutional investors own 79.79% of the company’s stock.

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Halliburton Company Profile

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.

The Fly

Analyst Recommendations for Halliburton (NYSE:HAL)

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