Edmond DE Rothschild Holding S.A. Acquires New Stake in Halliburton Company $HAL

Edmond DE Rothschild Holding S.A. bought a new position in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 381,800 shares of the oilfield services company’s stock, valued at approximately $12,962,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Halliburton during the second quarter worth about $2,812,327,000. State Street Corp grew its holdings in shares of Halliburton by 1.7% during the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock worth $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Halliburton by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Trading Up 1.1%

HAL stock opened at $35.05 on Thursday. The company has a market capitalization of $29.20 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. Halliburton Company has a one year low of $20.78 and a one year high of $43.59. The company’s 50 day moving average price is $34.11 and its two-hundred day moving average price is $36.50.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on HAL. HSBC lifted their target price on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Argus lowered their price objective on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Rothschild & Co Redburn upped their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.10.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Halliburton 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.