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Shares Of Halliburton Earn A Strong Sell Rating

|Includes: Halliburton Company (HAL)

Analysts at Zacks suggest a 'strong sell' rating to the shares of Halliburton Company

After the merger with rival company Baker Hughes, Halliburton Company is all set to invite potential investors and shareholders participate in the company's business in a positive manner. The company currently is expecting a total investment of around $10 billion by the end of the next month and this news has been confirmed by Bloomberg.

After Bloomberg announced this report about the company's future plans, the bears in the stock market took control of the situation and the share price of the company witnessed an increment by a massive 3.1%. The oil digging company's shares opened at a share price of $42.82 on Monday, 23rd March 2015. The company went through a fluctuating trading session in which the share price first increased, keeping the bears content. But as the closing time came closer, the bears won the day's war and the share price closed at a downfall of 0.42, setting the share price at $42.40.

Halliburton Company has a 52 week high average of the stock estimated at $74.33 whereas the 52 week low of the company has been estimated at $37.21. On the other hand, as for the 50 day moving average of the stock, the price has been set at $42 and the 200 day average of the moving stock is $48.

As the oil prices all around the globe are experiencing a dip, even the largest oilfield services providing companies have no other option but to be victimized by the blow. Halliburton Company is the second largest oil service provider of the United States and it has been one of the main affected companies by the downfall in the crude prices. This is because as service providers in the oil industry, their main concern is with the up and down value of the oil in the global market.

After the merger of Halliburton with Baker Hughes, the combination of both the companies is expected to raise expectations of the analysts and work in a much better position that it is already working in. By the end of the current fiscal year, the merger is expected to dominate all the other companies in the industry by increasing sales by a huge number.

According to the analysis of a few prominent equity analyst firms, the oil company has received an average rating of a 'buy' by different companies and the price target on the shares of the firm have been set at $64.22. Analysts at financial firm Zacks have given the oil digging company an 'underperform' rating which previously had been a rating of 'neutral', and gave a 'strong sell' rating to the shares of the company.