Empirical Finance LLC Increases Stake in Halliburton (NYSE:HAL)

Empirical Finance LLC raised its stake in shares of Halliburton (NYSE:HAL) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,651 shares of the oilfield services company’s stock after purchasing an additional 762 shares during the quarter. Empirical Finance LLC’s holdings in Halliburton were worth $1,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Country Trust Bank acquired a new position in shares of Halliburton in the 3rd quarter valued at $36,000. Bruce G. Allen Investments LLC increased its holdings in shares of Halliburton by 274.9% in 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 during the period. ORG Wealth Partners LLC acquired a new position in shares of Halliburton in the third quarter valued at about $44,000. Crewe Advisors LLC acquired a new stake in shares of Halliburton during the first quarter worth about $46,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

HAL has been the subject of a number of recent research reports. Barclays reduced their price target on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. TD Cowen reduced their target price on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Stifel Nicolaus lowered their price target on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Raymond James reduced their price objective on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group lowered their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.79.

Halliburton Trading Down 1.4 %

Shares of Halliburton stock opened at $29.69 on Friday. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The firm’s 50-day moving average price is $29.14 and its 200 day moving average price is $32.23. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $26.08 billion, a PE ratio of 10.34, a P/E/G ratio of 3.70 and a beta of 1.89.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that Halliburton will post 3.02 EPS for the current fiscal year.

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.