Traders Buy Halliburton Company (HAL) on Weakness

Traders bought shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Wednesday. $82.17 million flowed into the stock on the tick-up and $47.69 million flowed out of the stock on the tick-down, for a money net flow of $34.48 million into the stock. Of all stocks tracked, Halliburton had the 11th highest net in-flow for the day. Halliburton traded down ($0.69) for the day and closed at $43.77

HAL has been the subject of several recent research reports. Credit Suisse Group set a $60.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price objective on shares of Halliburton in a research report on Friday, June 30th. Scotiabank reiterated a “buy” rating and issued a $59.00 price objective on shares of Halliburton in a research report on Wednesday, June 28th. Royal Bank Of Canada set a $65.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Saturday, June 24th. Finally, HSBC Holdings plc reiterated a “buy” rating and issued a $62.00 price objective (down previously from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Halliburton has an average rating of “Buy” and a consensus price target of $57.70.

The firm’s market cap is $37.84 billion. The company’s 50 day moving average is $43.39 and its 200-day moving average is $43.99.

Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities analysts predict that Halliburton Company will post $1.12 EPS for the current fiscal year.

In related news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in HAL. South State Corp purchased a new position in Halliburton during the 1st quarter worth $262,000. Tiedemann Wealth Management LLC grew its stake in Halliburton by 16.6% during the 1st quarter. Tiedemann Wealth Management LLC now owns 5,385 shares of the oilfield services company’s stock worth $265,000 after buying an additional 765 shares during the last quarter. Hosking Partners LLP grew its stake in Halliburton by 10.4% during the 1st quarter. Hosking Partners LLP now owns 60,753 shares of the oilfield services company’s stock worth $2,990,000 after buying an additional 5,743 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Halliburton by 13.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,084 shares of the oilfield services company’s stock worth $201,000 after buying an additional 499 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Halliburton by 4.5% during the 1st quarter. Great Lakes Advisors LLC now owns 11,180 shares of the oilfield services company’s stock worth $550,000 after buying

HAL has been the subject of several recent research reports. Credit Suisse Group set a $60.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price objective on shares of Halliburton in a research report on Friday, June 30th. Scotiabank reiterated a “buy” rating and issued a $59.00 price objective on shares of Halliburton in a research report on Wednesday, June 28th. Royal Bank Of Canada set a $65.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Saturday, June 24th. Finally, HSBC Holdings plc reiterated a “buy” rating and issued a $62.00 price objective (down previously from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Halliburton has an average rating of “Buy” and a consensus price target of $57.70.

The firm’s market cap is $37.84 billion. The company’s 50 day moving average is $43.39 and its 200-day moving average is $43.99.

Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities analysts predict that Halliburton Company will post $1.12 EPS for the current fiscal year.

In related news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in HAL. South State Corp purchased a new position in Halliburton during the 1st quarter worth $262,000. Tiedemann Wealth Management LLC grew its stake in Halliburton by 16.6% during the 1st quarter. Tiedemann Wealth Management LLC now owns 5,385 shares of the oilfield services company’s stock worth $265,000 after buying an additional 765 shares during the last quarter. Hosking Partners LLP grew its stake in Halliburton by 10.4% during the 1st quarter. Hosking Partners LLP now owns 60,753 shares of the oilfield services company’s stock worth $2,990,000 after buying an additional 5,743 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Halliburton by 13.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,084 shares of the oilfield services company’s stock worth $201,000 after buying an additional 499 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Halliburton by 4.5% during the 1st quarter. Great Lakes Advisors LLC now owns 11,180 shares of the oilfield services company’s stock worth $550,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

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About Halliburton

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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