Meeder Advisory Services Inc. Takes $859,000 Position in Halliburton Company $HAL

Meeder Advisory Services Inc. bought a new position in shares of Halliburton Company (NYSE:HAL) in the second quarter, Holdings Channel reports. The fund bought 25,300 shares of the oilfield services company’s stock, valued at approximately $859,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. bought a new stake in shares of Halliburton during the 4th quarter worth $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton during the third quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton during the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Halliburton during the second quarter valued at $26,000. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Up 1.1%

NYSE:HAL opened at $35.05 on Thursday. The firm has a market capitalization of $29.20 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.17 and a beta of 0.73. Halliburton Company has a 1-year low of $20.78 and a 1-year high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average price is $34.11 and its 200 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, topping the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Insider Activity at Halliburton

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wolfe Research began coverage on Halliburton in a research note on Wednesday, July 8th. They issued a “peer perform” rating on the stock. UBS Group decreased their target price on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, July 27th. TD Cowen dropped their target price on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Argus cut their price target on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Finally, Susquehanna cut their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.