Wedbush Securities Inc. Has $365,000 Position in Halliburton Company $HAL

Wedbush Securities Inc. grew its stake in Halliburton Company (NYSE:HAL) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,916 shares of the oilfield services company’s stock after purchasing an additional 2,306 shares during the quarter. Wedbush Securities Inc.’s holdings in Halliburton were worth $365,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock worth $759,623,000 after purchasing an additional 24,506,472 shares in the last quarter. Invesco Ltd. raised its stake in shares of Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock worth $274,349,000 after purchasing an additional 731,105 shares during the period. LSV Asset Management increased its holdings in Halliburton by 3.3% during the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock worth $155,088,000 after buying an additional 193,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Halliburton by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock worth $133,949,000 after acquiring an additional 282,492 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after acquiring an additional 3,178,746 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HAL shares. Wells Fargo & Company decreased their price target on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Citigroup reissued a “buy” rating on shares of Halliburton in a research report on Tuesday, October 14th. Melius Research initiated coverage on Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 price target for the company. UBS Group boosted their price objective on Halliburton from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Susquehanna upped their price objective on shares of Halliburton from $27.00 to $29.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.48.

Halliburton Price Performance

HAL stock opened at $28.07 on Wednesday. The firm has a 50 day moving average of $24.33 and a 200-day moving average of $22.34. The firm has a market capitalization of $23.62 billion, a P/E ratio of 18.59 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.70. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the company earned $0.73 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton Company will post 2.64 earnings per share 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.