Connecticut Wealth Management LLC Takes $792,000 Position in Halliburton (NYSE:HAL)

Connecticut Wealth Management LLC purchased a new position in Halliburton (NYSE:HAL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 21,895 shares of the oilfield services company’s stock, valued at approximately $792,000.

Several other hedge funds also recently bought and sold shares of HAL. Ancora Advisors LLC boosted its holdings in Halliburton by 443.8% in the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares during the period. Princeton Global Asset Management LLC purchased a new position in Halliburton during the fourth quarter worth about $36,000. Criterion Capital Advisors LLC bought a new position in Halliburton in the 4th quarter worth about $37,000. Stone House Investment Management LLC purchased a new stake in shares of Halliburton in the 4th quarter valued at about $38,000. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Halliburton by 27.2% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,385 shares of the oilfield services company’s stock valued at $50,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling

In other news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $49.00 target price on shares of Halliburton in a research note on Monday, April 8th. Citigroup raised their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Raymond James cut their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Barclays lowered their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company cut their price objective on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.59.

Halliburton Trading Up 0.1 %

Shares of NYSE:HAL traded up $0.03 during trading on Friday, reaching $36.73. 3,899,005 shares of the company traded hands, compared to its average volume of 6,076,928. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The business’s fifty day moving average is $38.08 and its 200-day moving average is $37.14. The firm has a market capitalization of $32.52 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 0.93 and a beta of 2.01.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, analysts forecast that Halliburton will post 3.39 EPS for the current year.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.