Pinnacle Financial Partners Inc. Raises Stake in Halliburton Company (HAL)

Pinnacle Financial Partners Inc. increased its position in shares of Halliburton Company (NYSE:HAL) by 27.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,254 shares of the oilfield services company’s stock after purchasing an additional 2,630 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Halliburton were worth $599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Calton & Associates Inc. acquired a new position in shares of Halliburton during the fourth quarter valued at $128,000. Cerebellum GP LLC acquired a new position in shares of Halliburton during the fourth quarter valued at $131,000. YorkBridge Wealth Partners LLC lifted its stake in shares of Halliburton by 243.3% during the third quarter. YorkBridge Wealth Partners LLC now owns 3,165 shares of the oilfield services company’s stock valued at $146,000 after acquiring an additional 2,243 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Halliburton during the third quarter valued at $184,000. Finally, Nicolet Bankshares Inc. acquired a new position in shares of Halliburton during the fourth quarter valued at $193,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of Halliburton Company (NYSE:HAL) opened at $47.87 on Thursday. Halliburton Company has a fifty-two week low of $38.18 and a fifty-two week high of $57.86. The stock has a market capitalization of $41,461.98, a PE ratio of -90.32, a price-to-earnings-growth ratio of 2.26 and a beta of 0.97. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 1.25.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. sell-side analysts predict that Halliburton Company will post 2.62 EPS for the current fiscal year.

Several brokerages have recently issued reports on HAL. B. Riley reaffirmed a “buy” rating on shares of Halliburton in a research note on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $65.00 price target (up previously from $55.00) on shares of Halliburton in a research note on Tuesday, January 23rd. Piper Jaffray Companies set a $52.00 price target on Halliburton and gave the company a “buy” rating in a research note on Thursday, December 14th. Sanford C. Bernstein set a $60.00 price target on Halliburton and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, FBR & Co cut their target price on Halliburton from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Halliburton currently has a consensus rating of “Buy” and an average target price of $59.73.

In related news, VP Anne L. Beaty sold 1,245 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $51.50, for a total transaction of $64,117.50. Following the completion of the transaction, the vice president now directly owns 60,839 shares in the company, valued at $3,133,208.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Anne L. Beaty sold 2,937 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $51.57, for a total value of $151,461.09. Following the transaction, the vice president now owns 60,839 shares of the company’s stock, valued at $3,137,467.23. The disclosure for this sale can be found here. Insiders sold 164,507 shares of company stock valued at $8,380,429 over the last 90 days. Corporate insiders own 0.46% of the company’s stock.

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Halliburton Company Profile

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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