Cornerstone Advisors Inc. boosted its stake in shares of Halliburton (NYSE:HAL) by 49.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,880 shares of the oilfield services company’s stock after purchasing an additional 947 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Halliburton were worth $37,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Perennial Advisors LLC bought a new position in Halliburton during the first quarter worth $58,000. Stephenson National Bank & Trust bought a new position in Halliburton during the second quarter worth $27,000. Beese Fulmer Investment Management Inc. bought a new position in Halliburton during the second quarter worth $31,000. Cerebellum GP LLC bought a new position in Halliburton during the second quarter worth $131,000. Finally, Verus Capital Partners LLC boosted its position in Halliburton by 568.4% during the first quarter. Verus Capital Partners LLC now owns 3,696 shares of the oilfield services company’s stock worth $25,000 after purchasing an additional 3,143 shares during the period. 74.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE HAL opened at $14.33 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.55 and a debt-to-equity ratio of 2.00. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 4.14 and a beta of 2.55. Halliburton has a 12 month low of $4.25 and a 12 month high of $25.47. The stock has a 50-day moving average price of $13.02 and a two-hundred day moving average price of $13.61.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 20th. The oilfield services company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.35 billion. Halliburton had a positive return on equity of 12.02% and a negative net margin of 21.35%. The business’s quarterly revenue was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, sell-side analysts predict that Halliburton will post 0.54 earnings per share for the current year.

HAL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price objective on shares of Halliburton from $11.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Credit Suisse Group lifted their target price on Halliburton from $9.50 to $11.75 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Raymond James lifted their target price on Halliburton from $15.00 to $18.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 21st. Cowen raised Halliburton from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $13.00 to $17.00 in a report on Wednesday, July 15th. Finally, Morgan Stanley lifted their target price on Halliburton from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.60.

About Halliburton

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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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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