Halliburton (NYSE:HAL) Now Covered by BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Halliburton (NYSE:HAL) in a report released on Thursday, The Fly reports. The firm set a “market perform” rating on the oilfield services company’s stock.

HAL has been the subject of a number of other research reports. Wells Fargo & Company reaffirmed a “hold” rating on shares of Halliburton in a report on Monday, August 17th. Goldman Sachs Group raised Halliburton from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 13th. Cowen raised Halliburton from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $13.00 to $17.00 in a report on Wednesday, July 15th. Stifel Nicolaus lifted their target price on Halliburton from $11.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Bank of America upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $18.00 in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $13.60.

NYSE:HAL traded down $0.88 during mid-day trading on Thursday, hitting $11.17. 26,893,836 shares of the company’s stock traded hands, compared to its average volume of 21,315,330. The company has a fifty day moving average of $15.12 and a 200 day moving average of $11.99. Halliburton has a twelve month low of $4.25 and a twelve month high of $25.47. The company has a market capitalization of $10.59 billion, a P/E ratio of -2.42, a P/E/G ratio of 4.05 and a beta of 2.62. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 2.22.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, July 20th. The oilfield services company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.35 billion. Halliburton had a positive return on equity of 12.02% and a negative net margin of 21.35%. The company’s revenue was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, research analysts expect that Halliburton will post 0.54 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Verus Capital Partners LLC raised its position in shares of Halliburton by 568.4% during the 1st quarter. Verus Capital Partners LLC now owns 3,696 shares of the oilfield services company’s stock worth $25,000 after purchasing an additional 3,143 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of Halliburton by 63.6% during the second quarter. Gemmer Asset Management LLC now owns 1,898 shares of the oilfield services company’s stock valued at $25,000 after acquiring an additional 738 shares during the last quarter. Stephenson National Bank & Trust purchased a new position in shares of Halliburton in the second quarter valued at approximately $27,000. Center for Financial Planning Inc. acquired a new stake in shares of Halliburton in the second quarter worth approximately $27,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Halliburton by 54.6% in the first quarter. Meeder Asset Management Inc. now owns 4,263 shares of the oilfield services company’s stock worth $29,000 after acquiring an additional 1,506 shares during the last quarter. 71.49% of the stock is owned by institutional investors and hedge funds.

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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