Halliburton (HAL) Receives a Hold from Morgan Stanley


In a report released today, Connor Lynagh from Morgan Stanley maintained a Hold rating on Halliburton (HAL), with a price target of $12.00. The company’s shares closed last Thursday at $11.78.

According to TipRanks.com, Lynagh is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -17.9% and a 34.5% success rate. Lynagh covers the Services sector, focusing on stocks such as Independence Contract Drilling, Nextier Oilfield Solutions, and Liberty Oilfield Services.

The word on The Street in general, suggests a Hold analyst consensus rating for Halliburton with a $11.55 average price target, which is a -7.4% downside from current levels. In a report issued on June 25, Citigroup also maintained a Hold rating on the stock with a $12.00 price target.

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Based on Halliburton’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.04 billion and GAAP net loss of $1.02 billion. In comparison, last year the company earned revenue of $5.74 billion and had a net profit of $152 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HAL in relation to earlier this year.

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Halliburton Co. engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the following segments: Completion and Production, and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and wellbore placement solutions that enable customers to model, measure, and optimize their well construction activities. The company was founded by Erle P. Halliburton in 1919 and is headquartered in Houston, TX.

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