ING Groep NV Decreases Stake in Halliburton (NYSE:HAL)

ING Groep NV decreased its holdings in Halliburton (NYSE:HAL) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,070 shares of the oilfield services company’s stock after selling 1,058 shares during the quarter. ING Groep NV’s holdings in Halliburton were worth $3,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC increased its holdings in shares of Halliburton by 274.9% in the 2nd 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 in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter valued at approximately $46,000. Country Trust Bank purchased a new stake in shares of Halliburton during the 3rd quarter worth approximately $36,000. Beacon Capital Management LLC grew its holdings in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after acquiring an additional 309 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in Halliburton in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company decreased their target price on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group dropped their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Morgan Stanley cut their target price on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Bank of America lowered their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Stifel Nicolaus reduced their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Price Performance

Halliburton stock opened at $29.69 on Friday. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The firm has a 50 day moving average price of $29.14 and a 200 day moving average price of $32.23. The company has a market cap of $26.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.70 and a beta of 1.89.

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

Halliburton Profile

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.