Wealthfront Advisers LLC Takes $8.04 Million Position in Halliburton Company $HAL

Wealthfront Advisers LLC purchased a new stake in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 236,865 shares of the oilfield services company’s stock, valued at approximately $8,042,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Halliburton in the second quarter valued at $2,812,327,000. State Street Corp lifted its holdings in shares of Halliburton by 1.7% in the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Halliburton by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after buying an additional 443,064 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after buying an additional 29,735,387 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HAL. BMO Capital Markets set a $37.00 price objective on Halliburton in a research note on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $43.00 target price on shares of Halliburton in a research note on Wednesday, July 22nd. Rothschild & Co Redburn upped their target price on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. Morgan Stanley reduced their price target on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, HSBC raised their price target on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Halliburton Stock Performance

Shares of HAL opened at $35.05 on Thursday. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. The company’s fifty day moving average is $34.11 and its 200-day moving average is $36.50. Halliburton Company has a 12 month low of $20.78 and a 12 month high of $43.59. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the business earned $0.55 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Company 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.