Notable Reporting: What’s Halliburton Company Upside After Touching 52-Week High?

Notable Reporting: What's Halliburton Company Upside After Touching 52 Week High?

The stock of Halliburton Company (NYSE:HAL) hit a new 52-week high and has $72.95 target or 50.00% above today’s $48.63 share price. The 6 months bullish chart indicates low risk for the $42.55 billion company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $72.95 price target is reached, the company will be worth $21.28 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 2.68M shares traded hands. Halliburton Company (NYSE:HAL) has risen 32.70% since March 16, 2016 and is uptrending. It has outperformed by 27.16% the S&P500.

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. $59 is the highest target while $16 is the lowest. The $45.02 average target is -7.42% below today’s ($48.63) stock price. Halliburton Company has been the topic of 77 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by Barclays Capital on Monday, March 28. Vetr downgraded the shares of HAL in a report on Tuesday, August 11 to “Strong-Buy” rating. Macquarie Research maintained the stock with “Neutral” rating in Tuesday, October 20 report. The stock of Halliburton Company (NYSE:HAL) has “Buy” rating given on Tuesday, August 11 by Zacks. The firm has “Outperform” rating by FBR Capital given on Tuesday, May 17. The rating was maintained by Jefferies on Monday, July 11 with “Buy”. Argus Research maintained Halliburton Company (NYSE:HAL) rating on Wednesday, July 22. Argus Research has “Buy” rating and $56 price target. The company was maintained on Thursday, July 21 by Deutsche Bank. HSBC upgraded the shares of HAL in a report on Thursday, September 3 to “Buy” rating. Nomura maintained Halliburton Company (NYSE:HAL) rating on Thursday, July 21. Nomura has “Buy” rating and $53 price target.

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 Q2 2016. Its up 0.06, from 0.79 in 2016Q1. The ratio is positive, 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.
Evercore Wealth Mngmt Ltd has invested 0.01% of its portfolio in Halliburton Company (NYSE:HAL). The New York-based Estabrook Mngmt has invested 0% in Halliburton Company (NYSE:HAL). M&T Financial Bank has 0.24% invested in the company for 788,940 shares. Brown Advisory holds 41,655 shares or 0.01% of its portfolio. Community Bancorp Na holds 0.01% or 1,350 shares in its portfolio. Deere And holds 0.15% or 59,471 shares in its portfolio. Ibm Retirement Fund owns 112,596 shares or 0.19% of their US portfolio. First Tru Advsrs Lp, a Illinois-based fund reported 224,780 shares. Benin Mgmt Corporation reported 47,125 shares or 1.1% of all its holdings. Janney Montgomery Scott has 79,276 shares for 0.05% of their US portfolio. Cypress Mgmt Lc (Wy) holds 0% or 300 shares in its portfolio. Motco has 2,142 shares for 0.01% of their US portfolio. The Bahamas-based Key Hldg (Cayman) has invested 0.14% in Halliburton Company (NYSE:HAL). Blair William Communication Il last reported 82,092 shares in the company. Ameriprise Incorporated accumulated 7.41 million shares or 0.2% of the stock.

Insider Transactions: Since May 6, 2016, the stock had 0 insider buys, and 5 sales for $3.83 million net activity. 10,425 shares were sold by Carre Eric, worth $421,900 on Friday, May 20. On Monday, October 10 the insider Brown James S sold $1.34 million. On Tuesday, June 7 Miller Jeffrey Allen sold $889,920 worth of the stock or 19,776 shares.

More notable recent Halliburton Company (NYSE:HAL) news were published by: Nasdaq.com which released: “Earnings Reaction History: Halliburton Company, 50.0% Follow-Through Indicator …” on October 19, 2016, also Upi.com with their article: “Halliburton turns a profit” published on October 19, 2016, Nasdaq.com published: “One Put, One Call Option To Know About for Halliburton Company” on October 17, 2016. More interesting news about Halliburton Company (NYSE:HAL) were released by: Businesswire.com and their article: “Halliburton and U.S. Silica Break Record for Moving Largest Sand Unit Train in …” published on October 13, 2016 as well as Seekingalpha.com‘s news article titled: “Will Animal Spirits Spur Halliburton In Q3?” with publication date: October 16, 2016.

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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