Investors Buy Halliburton (HAL) on Weakness
Traders purchased shares of Halliburton (NYSE:HAL) on weakness during trading on Thursday. $163.22 million flowed into the stock on the tick-up and $83.44 million flowed out of the stock on the tick-down, for a money net flow of $79.78 million into the stock. Of all equities tracked, Halliburton had the 6th highest net in-flow for the day. Halliburton traded down ($1.56) for the day and closed at $38.00
A number of brokerages have recently commented on HAL. ValuEngine cut Halliburton from a “hold” rating to a “sell” rating in a report on Friday. Cleveland Research cut Halliburton from a “buy” rating to a “neutral” rating in a report on Thursday. Bank of America began coverage on Halliburton in a report on Wednesday. They set a “buy” rating for the company. Stephens began coverage on Halliburton in a report on Friday, October 12th. They set an “overweight” rating for the company. Finally, Societe Generale cut Halliburton from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Friday, October 12th. One research 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 company currently has an average rating of “Buy” and a consensus target price of $53.56.
The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 1.18.
In other Halliburton news, insider James S. Brown sold 15,989 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Murry Gerber bought 5,800 shares of the stock in a transaction on Thursday, July 26th. The stock was purchased at an average price of $40.66 per share, with a total value of $235,828.00. Following the completion of the acquisition, the director now directly owns 60,961 shares in the company, valued at approximately $2,478,674.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of HAL. Ardsley Advisory Partners bought a new position in shares of Halliburton in the 2nd quarter worth $4,957,000. Canada Pension Plan Investment Board raised its position in shares of Halliburton by 10.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 617,412 shares of the oilfield services company’s stock worth $27,821,000 after acquiring an additional 56,586 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Halliburton by 11.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 56,146 shares of the oilfield services company’s stock worth $2,530,000 after acquiring an additional 5,745 shares in the last quarter. Investec Asset Management LTD raised its position in shares of Halliburton by 16.1% in the 2nd quarter. Investec Asset Management LTD now owns 41,929 shares of the oilfield services company’s stock worth $1,889,000 after acquiring an additional 5,802 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Halliburton by 13.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 23,492 shares of the oilfield services company’s stock worth $1,059,000 after acquiring an additional 2,756 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.
Halliburton Company Profile (NYSE:HAL)
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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