Halliburton Company (HAL) Downgraded by ValuEngine to “Sell”

Halliburton Company (NYSE:HAL) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, September 1st.

Several other analysts have also commented on the stock. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. Jefferies Group LLC set a $56.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Halliburton in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Halliburton in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Halliburton presently has an average rating of “Buy” and a consensus price target of $58.61.

Halliburton (NYSE:HAL) opened at 42.31 on Friday. The company’s market cap is $36.88 billion. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78. The firm has a 50-day moving average price of $40.41 and a 200-day moving average price of $45.08.

Halliburton (NYSE:HAL) last released its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company posted ($0.14) EPS. The business’s revenue was up 29.3% on a year-over-year basis. Equities research analysts anticipate that Halliburton will post $1.12 EPS for the current fiscal year.

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In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Braun Stacey Associates Inc. grew its position in shares of Halliburton by 84.6% in the first quarter. Braun Stacey Associates Inc. now owns 255,110 shares of the oilfield services company’s stock valued at $12,554,000 after purchasing an additional 116,900 shares during the last quarter. IFP Advisors Inc grew its position in shares of Halliburton by 8.9% in the first quarter. IFP Advisors Inc now owns 30,774 shares of the oilfield services company’s stock valued at $1,514,000 after purchasing an additional 2,510 shares during the last quarter. Palo Capital Inc. grew its position in shares of Halliburton by 11.7% in the first quarter. Palo Capital Inc. now owns 10,865 shares of the oilfield services company’s stock valued at $535,000 after purchasing an additional 1,140 shares during the last quarter. Meyer Handelman Co. grew its position in shares of Halliburton by 0.8% in the first quarter. Meyer Handelman Co. now owns 252,900 shares of the oilfield services company’s stock valued at $12,445,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Deltec Asset Management LLC grew its position in shares of Halliburton by 160.6% in the first quarter. Deltec Asset Management LLC now owns 86,000 shares of the oilfield services company’s stock valued at $4,232,000 after purchasing an additional 53,000 shares during the last quarter. Institutional investors own 79.53% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Halliburton (NYSE:HAL)

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