Traders Buy Halliburton (HAL) on Weakness

Investors purchased shares of Halliburton (NYSE:HAL) on weakness during trading on Friday. $128.62 million flowed into the stock on the tick-up and $88.57 million flowed out of the stock on the tick-down, for a money net flow of $40.05 million into the stock. Of all companies tracked, Halliburton had the 20th highest net in-flow for the day. Halliburton traded down ($2.08) for the day and closed at $50.19

HAL has been the topic of several recent analyst reports. Atlantic Securities upgraded shares of Halliburton from an “underweight” rating to a “neutral” rating in a research note on Monday, January 29th. Bank of America lowered shares of Halliburton from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Monday, February 26th. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Zacks Investment Research upgraded shares of Halliburton from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, March 6th. Finally, Cowen set a $54.00 price target on shares of Halliburton and gave the company a “hold” rating in a research note on Thursday, March 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $59.08.

The company has a quick ratio of 1.73, a current ratio of 2.22 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $46.36 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 2.67 and a beta of 1.03.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, April 23rd. The oilfield services company reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Halliburton had a positive return on equity of 15.87% and a negative net margin of 1.74%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same period last year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. research analysts predict that Halliburton will post 2.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, June 5th. Halliburton’s dividend payout ratio is presently 59.02%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. lifted its holdings in shares of Halliburton by 5.3% during the first quarter. Suntrust Banks Inc. now owns 103,792 shares of the oilfield services company’s stock worth $4,870,000 after purchasing an additional 5,224 shares during the period. Redwood Investments LLC acquired a new stake in shares of Halliburton during the first quarter worth $6,496,000. Amalgamated Bank lifted its holdings in shares of Halliburton by 7.1% during the first quarter. Amalgamated Bank now owns 120,773 shares of the oilfield services company’s stock worth $5,669,000 after purchasing an additional 7,963 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Halliburton by 5,612.7% during the first quarter. Summit Trail Advisors LLC now owns 296,376 shares of the oilfield services company’s stock worth $296,000 after purchasing an additional 291,188 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Halliburton by 8.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 62,368 shares of the oilfield services company’s stock worth $2,928,000 after purchasing an additional 4,982 shares during the period. 79.81% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

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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