AM Squared Ltd Acquires 1,000 Shares of Halliburton (NYSE:HAL)

AM Squared Ltd increased its position in Halliburton (NYSE:HAL) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the oilfield services company’s stock after buying an additional 1,000 shares during the quarter. Halliburton accounts for 0.5% of AM Squared Ltd’s portfolio, making the stock its 16th largest position. AM Squared Ltd’s holdings in Halliburton were worth $224,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Country Trust Bank purchased a new position in Halliburton in the 3rd quarter worth approximately $36,000. Bruce G. Allen Investments LLC boosted its position in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Halliburton in the third quarter worth $44,000. Crewe Advisors LLC bought a new stake in Halliburton in the first quarter worth $46,000. Finally, Venturi Wealth Management LLC boosted its holdings in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after acquiring an additional 412 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

NYSE:HAL opened at $29.69 on Friday. The firm has a market capitalization of $26.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.64 and a beta of 1.89. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The business has a 50 day simple moving average of $29.14 and a 200-day simple moving average of $32.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Halliburton will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HAL. Morgan Stanley lowered their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Piper Sandler reduced their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Stifel Nicolaus reduced their price target on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Bank of America cut their target price on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, UBS Group cut their target price on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.79.

About Halliburton

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.