Cibc World Market Inc. Invests $17.80 Million in Halliburton Company $HAL

Cibc World Market Inc. bought a new position in Halliburton Company (NYSE:HAL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 524,348 shares of the oilfield services company’s stock, valued at approximately $17,802,000.

Other institutional investors have also recently bought and sold shares of the company. Kelleher Financial Advisors purchased a new position in Halliburton during the third quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new stake in shares of Halliburton during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Halliburton during the 2nd quarter worth $26,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Halliburton during the 2nd quarter worth $28,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HAL shares. UBS Group reduced their target price on Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. TD Cowen cut their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 price objective on Halliburton in a research note on Wednesday, July 22nd. Finally, Rothschild & Co Redburn boosted their target price on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Insider Transactions at Halliburton

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares in the company, valued at $4,166,235.70. This represents a 30.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Halliburton Stock Performance

NYSE:HAL opened at $34.63 on Tuesday. The firm’s fifty day simple moving average is $33.88 and its 200 day simple moving average is $36.54. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a twelve month low of $21.40 and a twelve month high of $43.59. The firm has a market capitalization of $28.85 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.21 and a beta of 0.73.

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