OVERSEA CHINESE BANKING Corp Ltd Takes $225,000 Position in Halliburton (NYSE:HAL)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Halliburton (NYSE:HAL) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 8,099 shares of the oilfield services company’s stock, valued at approximately $225,000.

Several other institutional investors have also modified their holdings of the company. Country Trust Bank acquired a new position in Halliburton during the third quarter worth $36,000. Bruce G. Allen Investments LLC raised its position in 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 worth $38,000 after acquiring an additional 822 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Halliburton in the 3rd quarter valued at approximately $44,000. Crewe Advisors LLC purchased a new stake in shares of Halliburton in the first quarter valued at $46,000. Finally, Venturi Wealth Management LLC boosted its stake 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 valued at $47,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Dbs Bank initiated coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Bank of America reduced their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Stock Performance

Shares of HAL stock opened at $30.13 on Friday. 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 company has a market cap of $26.47 billion, a PE ratio of 10.50, a P/E/G ratio of 3.70 and a beta of 1.89. The company’s fifty day simple moving average is $29.10 and its 200-day simple moving average is $32.31. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56.

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