Traders Buy Shares of Halliburton (HAL) on Weakness

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Investors bought shares of Halliburton (NYSE:HAL) on weakness during trading on Thursday. $114.02 million flowed into the stock on the tick-up and $58.30 million flowed out of the stock on the tick-down, for a money net flow of $55.72 million into the stock. Of all companies tracked, Halliburton had the 24th highest net in-flow for the day. Halliburton traded down ($0.89) for the day and closed at $39.75

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Zacks Investment Research cut shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Royal Bank of Canada set a $54.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Citigroup set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, B. Riley set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Thursday, July 26th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.56.

The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $35.66 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 1.99 EPS for the current fiscal year.

In other Halliburton news, Director Murry Gerber purchased 5,800 shares of the stock in a transaction on Thursday, July 26th. The shares were purchased at an average cost of $40.66 per share, for a total transaction of $235,828.00. Following the purchase, the director now owns 60,961 shares of the company’s stock, valued at $2,478,674.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total transaction of $648,034.17. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

A number of hedge funds have recently modified their holdings of HAL. Bayesian Capital Management LP acquired a new stake in Halliburton in the 1st quarter valued at $549,000. The Manufacturers Life Insurance Company increased its stake in Halliburton by 4.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,366,634 shares of the oilfield services company’s stock valued at $64,150,000 after buying an additional 51,942 shares during the last quarter. Ostrum Asset Management acquired a new stake in Halliburton in the 1st quarter valued at $280,000. United Capital Financial Advisers LLC increased its stake in Halliburton by 6.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 72,962 shares of the oilfield services company’s stock valued at $3,425,000 after buying an additional 4,150 shares during the last quarter. Finally, LPL Financial LLC increased its stake in Halliburton by 60.3% in the 1st quarter. LPL Financial LLC now owns 187,032 shares of the oilfield services company’s stock valued at $8,779,000 after buying an additional 70,326 shares during the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

About Halliburton (NYSE:HAL)

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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