Halliburton (NYSE:HAL) Trading Down 5.1%

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Halliburton (NYSE:HAL)’s share price was down 5.1% during mid-day trading on Friday . The stock traded as low as $17.66 and last traded at $17.72, approximately 14,091,278 shares were traded during mid-day trading. An increase of 21% from the average daily volume of 11,610,189 shares. The stock had previously closed at $18.67.

Several equities research analysts have issued reports on HAL shares. ValuEngine downgraded Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Citigroup decreased their price objective on Halliburton from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Morgan Stanley decreased their price objective on Halliburton from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating and set a $20.00 price objective for the company in a report on Wednesday, July 24th. Finally, Piper Jaffray Companies set a $26.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $39.78.

The company has a quick ratio of 1.59, a current ratio of 2.26 and a debt-to-equity ratio of 1.16. The stock has a 50 day simple moving average of $21.38 and a two-hundred day simple moving average of $25.84. The stock has a market capitalization of $16.35 billion, a P/E ratio of 9.33, a P/E/G ratio of 2.20 and a beta of 1.30.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.97 billion. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Sell-side analysts predict that Halliburton will post 1.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 4.06%. Halliburton’s dividend payout ratio is 37.89%.

A number of hedge funds have recently bought and sold shares of HAL. BlackRock Inc. lifted its position in shares of Halliburton by 8.3% in the second quarter. BlackRock Inc. now owns 64,046,975 shares of the oilfield services company’s stock valued at $1,456,428,000 after buying an additional 4,911,686 shares during the last quarter. Natixis lifted its position in shares of Halliburton by 101.9% in the second quarter. Natixis now owns 2,480,634 shares of the oilfield services company’s stock valued at $56,410,000 after buying an additional 1,251,900 shares during the last quarter. Barings LLC lifted its position in shares of Halliburton by 43.9% in the second quarter. Barings LLC now owns 179,054 shares of the oilfield services company’s stock valued at $4,071,000 after buying an additional 54,644 shares during the last quarter. Salient Capital Advisors LLC acquired a new stake in Halliburton during the 2nd quarter worth approximately $1,173,000. Finally, Verition Fund Management LLC lifted its holdings in Halliburton by 526.7% during the 2nd quarter. Verition Fund Management LLC now owns 45,027 shares of the oilfield services company’s stock worth $1,024,000 after purchasing an additional 37,842 shares during the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.

About Halliburton (NYSE:HAL)

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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