one8zero8 LLC Buys New Stake in Halliburton Company $HAL

one8zero8 LLC bought a new stake in Halliburton Company (NYSE:HAL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 89,900 shares of the oilfield services company’s stock, valued at approximately $3,052,000.

Several other hedge funds and other institutional investors have also modified their holdings of HAL. Meeder Asset Management Inc. acquired a new stake in shares of Halliburton in the second quarter valued at $26,000. Matrix Trust Co acquired a new position in Halliburton during the 2nd quarter worth about $29,000. Nvest Wealth Strategies Inc. acquired a new position in Halliburton during the 4th quarter worth about $25,000. Zions Bancorporation National Association UT boosted its holdings in Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after acquiring an additional 650 shares during the period. Finally, Hoey Investments Inc. purchased a new position in Halliburton during the 1st quarter valued at about $39,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the transaction, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

HAL has been the subject of several research reports. Barclays cut their price target on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Capital One Financial raised their price objective on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Susquehanna dropped their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Morgan Stanley cut their target price on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Halliburton Stock Up 1.1%

Shares of Halliburton stock opened at $35.05 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. Halliburton Company has a 52-week low of $20.78 and a 52-week high of $43.59. The company has a market capitalization of $29.20 billion, a P/E ratio of 18.35, a P/E/G ratio of 2.17 and a beta of 0.73. The company has a 50 day moving average of $34.11 and a 200 day moving average of $36.50.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 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 for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

About Halliburton

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.