Stephens Initiates Coverage on Halliburton (HAL)

Stephens assumed coverage on shares of Halliburton (NYSE:HAL) in a report issued on Friday, Marketbeat reports. The brokerage issued an overweight rating on the oilfield services company’s stock.

Other equities analysts have also issued reports about the company. Societe Generale lowered Halliburton from a buy rating to a hold rating and set a $43.00 price target for the company. in a research note on Friday. Wells Fargo & Co reissued a buy rating on shares of Halliburton in a research note on Friday, June 29th. Zacks Investment Research raised Halliburton from a hold rating to a buy rating and set a $51.00 price target for the company in a research note on Tuesday, June 26th. B. Riley set a $51.00 price target on Halliburton and gave the company a buy rating in a research note on Thursday, July 26th. Finally, Stifel Nicolaus assumed coverage on Halliburton in a research note on Monday, September 10th. They set a buy rating and a $45.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $53.56.

Halliburton stock traded down $0.15 during midday trading on Friday, reaching $39.60. 7,750,654 shares of the stock traded hands, compared to its average volume of 8,868,158. Halliburton has a 12 month low of $35.75 and a 12 month high of $57.86. The firm has a market cap of $35.66 billion, a PE ratio of 32.46, a PEG ratio of 2.54 and a beta of 1.01. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 1.18.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Halliburton had a net margin of 0.42% and a return on equity of 19.48%. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the company posted $0.23 earnings per share. Halliburton’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts forecast that Halliburton will post 1.99 earnings per share for the current fiscal year.

In related news, Director Murry Gerber acquired 5,800 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were acquired at an average cost of $40.66 per share, for a total transaction of $235,828.00. Following the completion of the transaction, the director now directly owns 60,961 shares in the company, valued at approximately $2,478,674.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James S. Brown sold 15,989 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ardsley Advisory Partners purchased a new stake in shares of Halliburton in the second quarter worth approximately $4,957,000. Canada Pension Plan Investment Board raised its holdings in shares of Halliburton by 10.1% in the second quarter. Canada Pension Plan Investment Board now owns 617,412 shares of the oilfield services company’s stock worth $27,821,000 after buying an additional 56,586 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Halliburton by 11.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 56,146 shares of the oilfield services company’s stock worth $2,530,000 after buying an additional 5,745 shares during the period. Investec Asset Management LTD raised its holdings in shares of Halliburton by 16.1% in the second quarter. Investec Asset Management LTD now owns 41,929 shares of the oilfield services company’s stock worth $1,889,000 after buying an additional 5,802 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Halliburton by 13.3% in the second quarter. GHP Investment Advisors Inc. now owns 23,492 shares of the oilfield services company’s stock worth $1,059,000 after buying an additional 2,756 shares during the period. Hedge funds and other institutional investors own 78.84% of the company’s stock.

About Halliburton

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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Analyst Recommendations for Halliburton (NYSE:HAL)

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