Alpha Cubed Investments LLC Raises Holdings in Halliburton (NYSE:HAL)

Alpha Cubed Investments LLC grew its holdings in Halliburton (NYSE:HAL) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 461,729 shares of the oilfield services company’s stock after buying an additional 12,455 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Halliburton were worth $16,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Halliburton by 271.0% in the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after buying an additional 561,020 shares during the period. Cerity Partners LLC lifted its stake in shares of Halliburton by 69.5% in the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock valued at $7,472,000 after purchasing an additional 84,771 shares during the period. KLCM Advisors Inc. lifted its stake in shares of Halliburton by 6.9% in the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock valued at $17,722,000 after purchasing an additional 31,534 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Halliburton by 65.4% in the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock valued at $2,094,000 after purchasing an additional 22,906 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Halliburton by 13.1% in the 3rd quarter. California State Teachers Retirement System now owns 2,037,646 shares of the oilfield services company’s stock valued at $82,525,000 after purchasing an additional 235,906 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HAL shares. Wells Fargo & Company lowered their target price on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday. Benchmark restated a “buy” rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday, April 24th. UBS Group raised their target price on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. TD Cowen raised their price objective on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.65.

Halliburton Stock Performance

Shares of HAL traded down $1.41 during trading hours on Tuesday, hitting $37.48. The stock had a trading volume of 7,440,545 shares, compared to its average volume of 7,082,327. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The firm has a market capitalization of $33.18 billion, a PE ratio of 13.46, a PEG ratio of 0.99 and a beta of 2.00. The stock has a fifty day moving average price of $37.95 and a 200 day moving average price of $37.31.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. Halliburton’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts anticipate that Halliburton will post 3.4 EPS for the current year.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.