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

Kentucky Farm Bureau Mutual Insurance Co bought a new stake in Halliburton Company (NYSE:HAL) during the 2nd quarter, Holdings Channel.com reports. The firm bought 30,000 shares of the oilfield services company’s stock, valued at approximately $1,018,000.

A number of other large investors have also recently bought and sold shares of HAL. BlackRock Inc. acquired a new stake in shares of Halliburton in the second quarter valued at approximately $2,812,327,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Capital Research Global Investors boosted its holdings in Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Halliburton in the second quarter valued at $337,486,000. Finally, Norges Bank bought a new position in Halliburton in the fourth quarter valued at $169,304,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $35.05 on Thursday. The stock has a market cap of $29.20 billion, a P/E ratio of 18.35, a P/E/G ratio of 2.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a fifty day moving average price of $34.11 and a two-hundred day moving average price of $36.50. Halliburton Company has a one year low of $20.78 and a one year high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, equities analysts predict that Halliburton Company will post 2.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. TD Cowen decreased their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Zephirin Group lifted their target price on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Wednesday, April 22nd. Susquehanna dropped their target price on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Wolfe Research began coverage on Halliburton in a research report on Wednesday, July 8th. They set a “peer perform” rating for the company. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Insider Transactions at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value 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 represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

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.