Adell Harriman & Carpenter Inc. lessened its holdings in Halliburton (NYSE:HAL) by 35.5% during the first quarter, HoldingsChannel.com reports. The fund owned 15,727 shares of the oilfield services company’s stock after selling 8,665 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Halliburton were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SevenBridge Financial Group LLC increased its position in Halliburton by 387.5% during the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after buying an additional 775 shares during the period. Essex Savings Bank bought a new position in Halliburton during the 4th quarter worth $27,000. Paragon Capital Management LLC bought a new position in Halliburton during the 1st quarter worth $29,000. American Research & Management Co. bought a new position in Halliburton during the 1st quarter worth $29,000. Finally, Barnett & Company Inc. bought a new position in Halliburton during the 1st quarter worth $29,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Several research firms have weighed in on HAL. Zacks Investment Research cut Halliburton from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Morgan Stanley set a $40.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Seaport Global Securities set a $49.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. UBS Group set a $36.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, SunTrust Banks lowered their price objective on Halliburton to $39.00 and set an “average” rating on the stock in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.71.
HAL opened at $25.59 on Thursday. The firm has a market cap of $21.54 billion, a PE ratio of 13.47, a P/E/G ratio of 1.34 and a beta of 1.14. Halliburton has a 52-week low of $24.33 and a 52-week high of $54.91. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 1.07.
Halliburton (NYSE:HAL) last released its earnings results on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.53 billion. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. Halliburton’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. Equities analysts forecast that Halliburton will post 1.38 earnings per share for the current year.
In related news, CFO Lance Loeffler sold 5,926 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.35, for a total value of $168,002.10. Following the sale, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at $1,584,339.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.
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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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