Noteworthy Price Action: What’s in Halliburton Company After Reaching 52-Week High?

Noteworthy Price Action: What's in Halliburton Company After Reaching 52 Week High?

The stock of Halliburton Company (NYSE:HAL) hit a new 52-week high and has $55.98 target or 7.00% above today’s $52.32 share price. The 7 months bullish chart indicates low risk for the $44.29B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $55.98 price target is reached, the company will be worth $3.10B 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 7.06M shares traded hands. Halliburton Company (NYSE:HAL) has risen 16.45% since April 27, 2016 and is uptrending. It has outperformed by 11.22% the S&P500.

Analysts await Halliburton Company (NYSE:HAL) to report earnings on January, 23 before the open. They expect $0.01 earnings per share, down 96.77% or $0.30 from last year’s $0.31 per share. HAL’s profit will be $8.46 million for 1307.75 P/E if the $0.01 EPS becomes a reality. After $0.01 actual earnings per share reported by Halliburton Company for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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. $63 is the highest target while $16 is the lowest. The $48.12 average target is -8.03% below today’s ($52.32) stock price. Halliburton Company has been the topic of 86 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, October 5 the stock rating was maintained by Citigroup with “Buy”. The firm has “Market Perform” rating given on Thursday, October 20 by Cowen & Co. The rating was maintained by Deutsche Bank on Wednesday, April 6 with “Buy”. On Tuesday, May 17 the stock rating was upgraded by FBR Capital to “Outperform”. The firm has “Buy” rating by Argus Research given on Thursday, October 22. On Thursday, July 21 the stock rating was maintained by Nomura with “Buy”. As per Tuesday, July 19, the company rating was downgraded by Societe Generale. The rating was downgraded by Zacks to “Buy” on Tuesday, August 11. The rating was upgraded by HSBC on Saturday, September 5 to “Buy”. UBS maintained it with “Buy” rating and $45 target price in Tuesday, January 26 report.

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 2016 Q2. Its up 0.03, from 0.85 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.
Spectrum Asset Mngmt (Nb Ca) holds 1.48% or 27,690 shares in its portfolio. Pekin Singer Strauss Asset Mgmt Il last reported 4,875 shares in the company. Westpac, a Australia-based fund reported 58,682 shares. Viking Fund Mgmt Limited Liability accumulated 3.61% or 460,000 shares. Partner Limited Partnership holds 15,080 shares or 1.12% of its portfolio. Adage Cap Prtn Gru Limited Liability holds 0.1% of its portfolio in Halliburton Company (NYSE:HAL) for 822,739 shares. Moody Savings Bank Tru Division holds 0.04% of its portfolio in Halliburton Company (NYSE:HAL) for 14,702 shares. Hanson Doremus Invest Mngmt last reported 4,384 shares in the company. Ibm Retirement Fund accumulated 112,596 shares or 0.19% of the stock. Utah Retirement last reported 156,614 shares in the company. Fdx Advsrs last reported 0.03% of its portfolio in the stock. State Treasurer State Of Michigan accumulated 0.11% or 298,507 shares. Pictet & Cie (Europe) last reported 135,283 shares in the company. Tradition Cap Management Ltd last reported 13,310 shares in the company. Harris Assoc Lp holds 5.65 million shares or 0.52% of its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 8 selling transactions for $8.15 million net activity. Brown James S had sold 28,439 shares worth $1.34 million on Monday, October 10. The insider Pope Lawrence J sold 10,400 shares worth $520,520. Another trade for 18,343 shares valued at $917,150 was sold by Carre Eric. 10,000 shares with value of $499,900 were sold by LESAR DAVID J on Wednesday, October 19. Another trade for 1,172 shares valued at $58,858 was made by Rainey Joe D on Wednesday, October 19. The insider Miller Jeffrey Allen sold 55,299 shares worth $2.77 million.

More important recent Halliburton Company (NYSE:HAL) news were published by: Seekingalpha.com which released: “Forbes Contributor Wants Halliburton To Waste Another $12 Billion” on November 29, 2016, also Bloomberg.com published article titled: “GE Pounced With E-Mail to Baker Hughes After Halliburton Deal Died”, 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) was released by: Seekingalpha.com and their article: “Halliburton Company: Priced For An Unlikely Return To Robust Activity Of Boom …” with publication date: November 14, 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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