Cibc World Market Inc. Buys Shares of 524,348 Halliburton Company $HAL

Cibc World Market Inc. purchased a new stake in Halliburton Company (NYSE:HAL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 524,348 shares of the oilfield services company’s stock, valued at approximately $17,802,000. Cibc World Market Inc. owned approximately 0.06% of Halliburton as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after buying an additional 6,507 shares in the last quarter. Woodline Partners LP increased its holdings in Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after acquiring an additional 20,583 shares in the last quarter. Focus Partners Wealth increased its holdings in Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares in the last quarter. Intech Investment Management LLC raised its position in Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after acquiring an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Halliburton in the first quarter valued at about $895,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of NYSE HAL opened at $34.63 on Tuesday. The company has a 50-day simple moving average of $33.88 and a 200-day simple moving average of $36.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market cap of $28.85 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.21 and a beta of 0.73. Halliburton Company has a 12 month low of $21.40 and a 12 month high of $43.59.

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 the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Insider Buying and Selling at Halliburton

In other news, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of Halliburton 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 approximately $5,330,382.80. This represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Freedom Capital upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Susquehanna cut their price objective on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Argus lowered their target price on Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. TD Cowen lowered their target price on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Barclays dropped their price target on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Eighteen equities 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 company’s stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average 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.