Tredje AP fonden acquired a new position in shares of Halliburton Company (NYSE:HAL – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 147,058 shares of the oilfield services company’s stock, valued at approximately $4,156,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after buying an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Halliburton by 9.4% in the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after buying an additional 2,238,983 shares during the period. Strive Asset Management LLC bought a new position in shares of Halliburton during the third quarter worth about $418,738,000. Finally, AQR Capital Management LLC boosted its stake in shares of Halliburton by 85.5% in the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.
Halliburton Trading Up 0.4%
Shares of HAL opened at $42.97 on Wednesday. Halliburton Company has a fifty-two week low of $19.38 and a fifty-two week high of $43.37. The business has a 50-day moving average of $38.59 and a 200 day moving average of $33.38. The firm has a market cap of $35.90 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08.
Analyst Upgrades and Downgrades
HAL has been the topic of several recent research reports. UBS Group increased their price target on Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. Argus boosted their price target on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Finally, Morgan Stanley boosted their target price on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.45.
View Our Latest Analysis on Halliburton
Insiders Place Their Bets
In related news, CEO Jeffrey Allen Miller sold 158,455 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $40.00, for a total value of $6,338,200.00. Following the completion of the sale, the chief executive officer owned 1,013,027 shares in the company, valued at $40,521,080. The trade was a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the transaction, the executive vice president owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 420,837 shares of company stock valued at $16,979,135 over the last quarter. Insiders own 0.57% of the company’s stock.
Halliburton 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.
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