Stock of The Day: Does Halliburton Company Have More Gas After Making 52-Week High?

Stock of The Day: Does Halliburton Company Have More Gas After Making 52 Week High?

The stock of Halliburton Company (NYSE:HAL) hit a new 52-week high and has $70.31 target or 48.00% above today’s $47.51 share price. The 6 months bullish chart indicates low risk for the $40.81 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $70.31 price target is reached, the company will be worth $19.59 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.09M shares traded hands. Halliburton Company (NYSE:HAL) has risen 29.07% since March 7, 2016 and is uptrending. It has outperformed by 21.48% the S&P500.

Analysts await Halliburton Company (NYSE:HAL) to report earnings on October, 19 before the open. They expect $-0.07 EPS, down 122.58% or $0.38 from last year’s $0.31 per share. After $-0.14 actual EPS reported by Halliburton Company for the previous quarter, Wall Street now forecasts -50.00% EPS growth.

Halliburton Company (NYSE:HAL) Ratings Coverage

Out of 27 analysts covering Halliburton Company (NYSE:HAL), 23 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 85% are positive. Halliburton Company has been the topic of 76 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Griffen Securities on Thursday, May 19. The company was maintained on Wednesday, July 13 by Citigroup. The rating was maintained by Barclays Capital with “Overweight” on Monday, March 28. The stock of Halliburton Company (NYSE:HAL) earned “Outperform” rating by FBR Capital on Thursday, July 21. The stock of Halliburton Company (NYSE:HAL) has “Buy” rating given on Thursday, October 22 by Argus Research. Argus Research maintained the stock with “Buy” rating in Thursday, May 19 report. The stock of Halliburton Company (NYSE:HAL) has “Accumulate” rating given on Tuesday, July 21 by Global Hunter Securities. As per Wednesday, July 22, the company rating was maintained by Argus Research. The stock has “Buy” rating given by Deutsche Bank on Wednesday, April 6. Seaport Global upgraded the shares of HAL in a report on Wednesday, January 13 to “Buy” rating.

According to Zacks Investment Research, “Halliburton is one of the world’s largest providers of products and services to the energy industry. The company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. The company operates under two main segments: Completion and Production, and Drilling and Evaluation.”

Insitutional Activity: The institutional sentiment increased to 0.85 in 2016 Q2. Its up 0.06, from 0.79 in 2016Q1. The ratio increased, as 74 funds sold all Halliburton Company shares owned while 330 reduced positions. 95 funds bought stakes while 250 increased positions. They now own 672.60 million shares or 0.48% less from 675.85 million shares in 2016Q1.
Profund Advsrs Ltd holds 0.2% of its portfolio in Halliburton Company (NYSE:HAL) for 90,526 shares. Capital Advsr Ltd Llc holds 0.06% or 14,111 shares in its portfolio. Ent Fin Svcs Corporation has 272 shares for 0.01% of their US portfolio. Edge Wealth Mgmt, a New York-based fund reported 623 shares. The Illinois-based North Star Inv Mngmt has invested 0.01% in Halliburton Company (NYSE:HAL). Blackrock Inc reported 1.65 million shares or 0.11% of all its holdings. Moreover, Shufro Rose Communication Ltd Llc has 0.03% invested in Halliburton Company (NYSE:HAL) for 6,281 shares. Richard Bernstein Advisors Ltd Liability Corporation owns 83,046 shares or 0.36% of their US portfolio. Rhumbline Advisers accumulated 1.37 million shares or 0.18% of the stock. Whitnell And has 0.03% invested in the company for 1,925 shares. Arcadia Invest Mgmt Mi holds 1.3% or 87,942 shares in its portfolio. Stratos Wealth Prns, a Ohio-based fund reported 12,412 shares. Moreover, Glg Ltd Partnership has 0.86% invested in Halliburton Company (NYSE:HAL) for 632,612 shares. Morgens Waterfall Vintiadis Incorporated accumulated 2.3% or 55,000 shares. Gabelli Funds Ltd accumulated 0.38% or 1.43M shares.

Insider Transactions: Since May 6, 2016, the stock had 0 insider purchases, and 4 sales for $2.49 million net activity. 10,425 shares were sold by Carre Eric, worth $421,900 on Friday, May 20. The insider Brown James S sold $175,760. Another trade for 19,776 shares valued at $889,920 was made by Miller Jeffrey Allen on Tuesday, June 7.

More recent Halliburton Company (NYSE:HAL) news were published by: Seekingalpha.com which released: “What Is The Fair Value Of Halliburton?” on October 06, 2016. Also Seekingalpha.com published the news titled: “How OPEC’s Decision Might Impact Halliburton” on October 03, 2016. Nasdaq.com‘s news article titled: “One Put, One Call Option To Know About for Halliburton Company” with publication date: October 03, 2016 was also an interesting one.

HAL Company Profile

Halliburton Company, incorporated on November 7, 1996, is a well-known provider of services and products to the upstream oil and natural gas industry. The Firm operates through two divisions: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services and products. The Company’s Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation and wellbore placement solutions that enable clients to model, measure, drill, and manage its well construction activities. The Firm operates its business in approximately 80 countries.

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