Zack Analysts Give A Hold Rating To Halliburton

The oil company has been trading downwards in the recent trade sessions due to which the analysts have come out to be quite bearish about the stock.

According to the most current Halliburton news, it has emerged as a fact that the firm has been witnessing some issues in the oil field services industry due to which many equity firms covering the stock of the firm have updated their analysis. As per the latest analysis made by the analysts at Zacks, it has become evident that the oil company has been provided with a ‘hold’ rating on the shares with the grade 3 ranking to the oil stock.

The average rating that has been received by around twenty-six analysts at the Wall Street has suggested a 1.85 rating to the shares of the energy firm. On the other hand, sixteen other analysts who have made coverage on the company’s stock activities seem to believe that the shares deserve a ‘strong buy’ rating, while only one analyst has granted a ‘buy’ rating to the oil firm’s stock.

Around seven significant brokerage firms who have been keeping a close eye on the company’s activities in the business, field have presumed a ‘hold’ rating for the shares. Only one equity firm thinks that the shares of the oil field services company deserve a ‘sell’ rating.

Furthermore, it was seen that analysts at brokerage firm Jefferies raised the target on Halliburton shares to a massive $60 from $54 which was previously given by the same analysts. As for the ranking, a ‘buy’ rating has been given by the Jefferies analysts to the energy oil company. If the consensus rating is taken into consideration, it will be seen that around $55.33 have been fixed by most of the analysts who have been studying the oil stock closely.

In near future, it has to be noted that fluctuation is also been expected to take place from the current target that has been set by analysts. The highest point that is expected for the firm to reach is with a share price of $83 while the lowest that is predicted by financial gurus is to reach a figure of $40.

The oil field services company has been witnessing some issues regarding the fluctuating pace of the oil prices on a global level which is why in the Friday’s trading session; the share price received an eminent downfall by 0.25 points. At the time the firm started its trade, the shares was recorded to be at a price of $45.64 and the highest it reached for the day came about to be at $46.38. However, this pace eventually experienced a dip as, by the end of the day, the firm closed the day’s trade with a share price of $45.54.