Kentucky Farm Bureau Mutual Insurance Co Takes Position in Halliburton Company $HAL

Kentucky Farm Bureau Mutual Insurance Co purchased a new position in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 30,000 shares of the oilfield services company’s stock, valued at approximately $1,018,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after acquiring an additional 6,507 shares during the period. Woodline Partners LP raised its position in shares of Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after acquiring an additional 20,583 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Halliburton by 25.0% in the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after purchasing an additional 10,408 shares during the period. Intech Investment Management LLC boosted its position in shares of Halliburton by 309.1% in the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after purchasing an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Halliburton during the first quarter worth $895,000. 85.23% of the stock is owned by institutional investors.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays dropped their price objective on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Evercore restated an “outperform” rating and set a $43.00 target price on shares of Halliburton in a research report on Wednesday, July 22nd. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Zephirin Group lifted their price objective on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Stock Performance

Shares of HAL stock opened at $35.05 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The company has a market capitalization of $29.20 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. The company’s 50 day moving average price is $34.11 and its two-hundred day moving average price is $36.50. Halliburton Company has a 52 week low of $20.78 and a 52 week high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, analysts expect that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.