Halliburton (NYSE:HAL) Rating Reiterated by Bank of America

Bank of America restated their buy rating on shares of Halliburton (NYSE:HAL) in a research report report published on Tuesday morning, Briefing.com Automated Import reports. The brokerage currently has a $32.00 price target on the oilfield services company’s stock, down from their prior price target of $42.00.

Other research analysts have also issued reports about the company. AltaCorp Capital reaffirmed a sector perform rating on shares of Halliburton in a research report on Thursday, June 20th. ValuEngine lowered Halliburton from a sell rating to a strong sell rating in a research report on Wednesday, May 1st. UBS Group set a $36.00 price target on Halliburton and gave the stock a buy rating in a research note on Tuesday, April 23rd. Goldman Sachs Group started coverage on Halliburton in a research note on Sunday, March 10th. They set a buy rating and a $42.00 price target for the company. Finally, Seaport Global Securities set a $49.00 price target on Halliburton and gave the stock a buy rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Halliburton has an average rating of Buy and an average target price of $43.74.

Shares of HAL stock opened at $22.74 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.57 and a current ratio of 2.22. Halliburton has a fifty-two week low of $20.98 and a fifty-two week high of $47.03. The business has a 50-day moving average price of $23.00. The firm has a market cap of $19.87 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 2.63 and a beta of 1.31.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Halliburton will post 1.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.72 annualized dividend and a yield of 3.17%. Halliburton’s payout ratio is 37.89%.

Large investors have recently made changes to their positions in the stock. Ellis Investment Partners LLC bought a new stake in shares of Halliburton in the 1st quarter worth approximately $25,000. SevenBridge Financial Group LLC lifted its position in shares of Halliburton by 387.5% in the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after acquiring an additional 775 shares during the period. Paragon Capital Management LLC bought a new stake in shares of Halliburton in the 1st quarter worth approximately $29,000. American Research & Management Co. bought a new stake in shares of Halliburton in the 1st quarter worth approximately $29,000. Finally, Barnett & Company Inc. bought a new stake in shares of Halliburton in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 77.37% 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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