Huntington National Bank reduced its position in shares of Halliburton (NYSE:HAL) by 47.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,519 shares of the oilfield services company’s stock after selling 165,210 shares during the period. Huntington National Bank’s holdings in Halliburton were worth $7,397,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC lifted its holdings in Halliburton by 1,159.6% during the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after purchasing an additional 2,180 shares during the last quarter. Sun Life Financial INC increased its position in Halliburton by 1,170.1% in the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after acquiring an additional 2,188 shares in the last quarter. Squar Milner Financial Services LLC acquired a new stake in Halliburton in the 2nd quarter valued at about $130,000. Banco de Sabadell S.A acquired a new stake in Halliburton in the 2nd quarter valued at about $136,000. Finally, Trust Co. of Vermont increased its position in Halliburton by 58.5% in the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock valued at $137,000 after acquiring an additional 1,116 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.
HAL has been the subject of several research reports. Citigroup lowered their price objective on shares of Halliburton from $61.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, June 25th. Zacks Investment Research upgraded shares of Halliburton from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, June 26th. Wells Fargo & Co restated a “buy” rating on shares of Halliburton in a research report on Friday, June 29th. ValuEngine cut shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Jefferies Financial Group set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.56.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts forecast that Halliburton will post 1.97 earnings per share for the current fiscal year.
In other news, Director Murry Gerber acquired 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was purchased at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the completion of the acquisition, the director now owns 60,961 shares in the company, valued at $2,478,674.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James S. Brown sold 15,989 shares of the business’s stock in a transaction that occurred 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. 0.54% of the stock is currently owned by insiders.
Halliburton Company Profile
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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