Halliburton Company (NYSE:HAL) Fails To Please Analysts


Halliburton Company (NYSE:HAL) is tracked by S&P500 index and has a market cap of $47.9 billion. A day after the company stock slipped 1.1% even after the oil producer registered a 17% year on year increase in earnings and a 5% increase in revenue , rating agencies have come out in its defence.  Deutsche Bank and Jefferies are two of the key rating agencies which have come forward with flattering rating upgrades for Halliburton.

Jefferies piped Deutsche bank to the post in releasing positive write ups about HAL prospects. The report from the former agency has also reiterated its Buy rating and has upped its price target from $58 to $60. The rating agency continues to tag HAL as a strong performer thanks to its holding in U.S. shale reservoir.

In its report Deutsche bank rating agency has retained a Buy rating and has predicted that the stock price can go up to $84 per share. This translates to a 38% increase over its close of business price on October 22. The rating agency has given leeway for the drop in production due to Colorado flooding and slow than expected production in Mexico and Brazil and predicts that the oil major will be able to overcome the same.

In the past 12 months the oil manufacturer has posted sales of $28.69 billion in the past 12 months. It has managed to record net income of $1.83 billion in the same period. It has managed to pay out $0.5 per share translating to a 0.97% dividend yield over the past year. On the back of results which are not up to market expectations, the oil firm stock has gained 1.21% over the past 1.21%. In the past one year the stock has appreciated by 47% taking the stock close to its 52 week high valuation.