Notable Price Action: Can Halliburton Company’s Tomorrow be Different? The Stock Just Broke Its High

Notable Price Action: Can Halliburton Company's Tomorrow be Different? The Stock Just Broke Its High

The stock of Halliburton Company (NYSE:HAL) hit a new 52-week high and has $72.97 target or 46.00% above today’s $49.98 share price. The 5 months bullish chart indicates low risk for the $43.84 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $72.97 price target is reached, the company will be worth $20.17B 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 1.48M shares traded hands. Halliburton Company (NYSE:HAL) has risen 23.15% since April 19, 2016 and is uptrending. It has outperformed by 19.29% the S&P500.

Halliburton Company (NYSE:HAL) Ratings Coverage

Out of 28 analysts covering Halliburton Company (NYSE:HAL), 24 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 86% are positive. Halliburton Company has been the topic of 86 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Halliburton Company (NYSE:HAL) earned “Outperform” rating by iBERIA Capital Partners on Wednesday, May 4. Oppenheimer maintained Halliburton Company (NYSE:HAL) on Tuesday, January 26 with “Outperform” rating. Citigroup maintained Halliburton Company (NYSE:HAL) on Monday, October 5 with “Buy” rating. Evercore maintained Halliburton Company (NYSE:HAL) on Saturday, August 22 with “Buy” rating. The stock of Halliburton Company (NYSE:HAL) has “Buy” rating given on Wednesday, October 21 by Citigroup. The firm has “Buy” rating by DA Davidson given on Thursday, October 20. The firm has “Buy” rating by Citigroup given on Monday, May 16. The firm has “Market Perform” rating given on Tuesday, January 26 by Cowen & Co. As per Tuesday, January 5, the company rating was upgraded by KeyBanc Capital Markets. The rating was initiated by DA Davidson with “Buy” on Friday, February 19.

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 0.88 in Q2 2016. Its up 0.03, from 0.85 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.
Teacher Retirement System Of Texas last reported 0.16% of its portfolio in the stock. The Connecticut-based Founders Capital Mgmt Limited Liability has invested 0.28% in Halliburton Company (NYSE:HAL). Victory Cap Mgmt accumulated 12,964 shares or 0% of the stock. Northstar Inv Advsrs Limited Liability owns 4,500 shares or 0.05% of their US portfolio. Moreover, Doheny Asset Mgmt Ca has 1.3% invested in Halliburton Company (NYSE:HAL) for 56,987 shares. Miller Inv Management Limited Partnership has invested 0.48% of its portfolio in Halliburton Company (NYSE:HAL). Teachers Inc owns 1.15 million shares or 0.09% of their US portfolio. Moreover, Cohen Klingenstein Llc has 0.07% invested in Halliburton Company (NYSE:HAL) for 8,500 shares. Dreman Value L L C, a Florida-based fund reported 14,349 shares. Washington Tru Com, a Rhode Island-based fund reported 4,700 shares. Msd Ltd Partnership has 0.93% invested in the company for 316,448 shares. Mar Vista Invest Prtn Lc accumulated 0.05% or 19,496 shares. Financial Bank Of Hawaii last reported 0.13% of its portfolio in the stock. Hourglass Capital holds 0.06% or 4,949 shares in its portfolio. Park National Oh holds 117,948 shares or 0.34% of its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 buys, and 7 selling transactions for $6.99 million net activity. Shares for $520,520 were sold by Pope Lawrence J. 28,439 shares with value of $1.34M were sold by Brown James S on Monday, October 10. 10,000 shares were sold by LESAR DAVID J, worth $499,900 on Wednesday, October 19. The insider Miller Jeffrey Allen sold $2.77 million. The insider Rainey Joe D sold 1,172 shares worth $58,858. Carre Eric had sold 18,343 shares worth $917,150.

More notable recent Halliburton Company (NYSE:HAL) news were published by: Fool.com which released: “Halliburton Company: The Oil Market Revival Is Just Around the Corner” on October 30, 2016, also Seekingalpha.com with their article: “Halliburton Company: Priced For An Unlikely Return To Robust Activity Of Boom …” published on November 14, 2016, Seekingalpha.com published: “Halliburton: $3.8 Billion Equity Raise Could Protect Its Credit Rating” on November 21, 2016. More interesting news about Halliburton Company (NYSE:HAL) were released by: Bloomberg.com and their article: “GE Pounced With E-Mail to Baker Hughes After Halliburton Deal Died” published on October 31, 2016 as well as Chron.com‘s news article titled: “Former Halliburton employees establish manufacturing company” with publication date: November 10, 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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