Investors Buy Shares of Halliburton Company (HAL) on Weakness

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

The stock’s market capitalization is $38.15 billion. The firm’s 50 day moving average price is $42.90 and its 200-day moving average price is $44.06.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. The company’s revenue was up 29.3% compared to the same quarter last year. On average, equities research analysts anticipate that Halliburton Company will post $1.11 earnings per share for the current year.

In other news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of HAL. BlackRock Inc. lifted its stake in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after buying an additional 8,105,286 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Halliburton by 35.1% in the second quarter. Franklin Resources Inc. now owns 14,813,901 shares of the oilfield services company’s stock worth $632,678,000 after buying an additional 3,844,946 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Halliburton by 7,314.7% in the second quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after buying an additional 3,700,084 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Halliburton by 3,294.9% in the second quarter. Janus Henderson Group PLC now owns 3,784,359 shares of the oilfield services company’s stock worth $161,631,000 after buying an additional 3,672,887 shares during the last quarter. Institutional investors and hedge funds 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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