Hara Capital LLC Takes Position in Halliburton Company $HAL

Hara Capital LLC acquired a new stake in shares of Halliburton Company (NYSE:HAL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,691 shares of the oilfield services company’s stock, valued at approximately $1,755,000.

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

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of analyst reports. Wolfe Research initiated coverage on Halliburton in a report on Wednesday, July 8th. They issued a “peer perform” rating for the company. BMO Capital Markets set a $37.00 price objective on Halliburton in a report on Wednesday, July 22nd. Capital One Financial lifted their target price on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Barclays lowered their price target on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.10.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares of the company’s stock, valued at $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Halliburton Stock Up 1.9%

Shares of NYSE HAL opened at $35.69 on Friday. The business has a 50-day moving average of $34.03 and a 200-day moving average of $36.51. The firm has a market capitalization of $29.73 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.19 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 12 month low of $20.83 and a 12 month high of $43.59.

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

Halliburton Company 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.