Halliburton (NYSE:HAL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Halliburton (NYSE:HAL) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of Halliburton in a research note on Wednesday, July 8th. They issued a “peer perform” rating on the stock. UBS Group lifted their target price on shares of Halliburton from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, September 14th. Freedom Capital upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. Citigroup increased their price objective on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley reduced their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $43.24.

Halliburton Trading Down 0.7%

Shares of NYSE HAL opened at $33.40 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton has a one year low of $21.46 and a one year high of $43.59. The business has a 50-day moving average price of $34.41 and a two-hundred day moving average price of $36.66. The firm has a market capitalization of $27.83 billion, a PE ratio of 17.49, a PEG ratio of 1.94 and a beta of 0.76.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, analysts predict that Halliburton will post 2.34 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is currently 35.60%.

Insider Activity at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halliburton

Several hedge funds have recently bought and sold shares of HAL. BlackRock Inc. acquired a new position in shares of Halliburton during the 2nd quarter valued at about $2,812,327,000. Capital Research Global Investors raised its stake in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Halliburton in the 2nd quarter worth approximately $345,941,000. Bank of New York Mellon Corp bought a new stake in Halliburton during the second quarter worth approximately $337,486,000. Finally, Norges Bank bought a new stake in Halliburton during the fourth quarter worth approximately $169,304,000. 85.23% of the stock is owned by institutional investors and hedge funds.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed memorandums of understanding with Brazilian energy producer Eneva and Venezuelan engineering company WESCA to pursue energy-development opportunities in Venezuela. The agreements could position Halliburton to benefit if investment and oil-and-gas activity recover in the underdeveloped market. Halliburton signs Venezuela energy pacts with Eneva, WESCA
• Positive Sentiment: The Venezuela initiative broadens Halliburton’s geographic growth prospects and could create future work in drilling, well construction, completion and other oilfield services. The company is seeking to support customers as a potential revival of Venezuela’s energy industry develops. Halliburton Signs Deals to Expand Venezuela Energy Presence
• Positive Sentiment: Halliburton also has a recently announced multi-year integrated contract from Eni for the Cronos ultra-deepwater development offshore Cyprus. The award spans drilling, well construction, automation and completion services, potentially improving revenue visibility and increasing the value of services per project. Halliburton Wins Integrated Cyprus Contract
• Neutral Sentiment: The Venezuela announcements are MOUs rather than firm contracts, so they do not establish a specific revenue contribution or project timetable. Investors will likely look for follow-on awards and evidence that the agreements translate into profitable activity. Halliburton Joins With Eneva, WESCA
• Negative Sentiment: Execution in Venezuela remains subject to political, regulatory and sanctions-related uncertainty. These risks could delay projects or limit the financial benefit of Halliburton’s return to the market, tempering the immediate stock reaction. Halliburton to reenter Venezuela via MOUs

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.