Pitcairn Co. Purchases 5,829 Shares of Halliburton (NYSE:HAL)

Pitcairn Co. boosted its position in shares of Halliburton (NYSE:HAL) by 45.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,520 shares of the oilfield services company’s stock after buying an additional 5,829 shares during the quarter. Pitcairn Co.’s holdings in Halliburton were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verus Capital Partners LLC raised its position in shares of Halliburton by 568.4% in the first quarter. Verus Capital Partners LLC now owns 3,696 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 3,143 shares during the period. NuWave Investment Management LLC raised its position in shares of Halliburton by 14,029.6% in the first quarter. NuWave Investment Management LLC now owns 3,815 shares of the oilfield services company’s stock valued at $26,000 after purchasing an additional 3,788 shares during the period. Stephenson National Bank & Trust bought a new position in shares of Halliburton in the second quarter valued at about $27,000. Meeder Asset Management Inc. raised its position in shares of Halliburton by 54.6% in the first quarter. Meeder Asset Management Inc. now owns 4,263 shares of the oilfield services company’s stock valued at $29,000 after purchasing an additional 1,506 shares during the period. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of Halliburton in the second quarter valued at about $31,000. 74.53% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the stock. BofA Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Tuesday, July 21st. Northland Securities assumed coverage on shares of Halliburton in a research report on Friday, May 29th. They issued a “market perform” rating and a $11.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Halliburton from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. UBS Group downgraded shares of Halliburton from a “neutral” rating to a “sell” rating and set a $7.50 price target on the stock. in a research note on Tuesday, May 26th. Finally, Barclays upped their price target on shares of Halliburton from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.60.

Shares of Halliburton stock opened at $14.33 on Friday. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of -3.11, a PEG ratio of 4.05 and a beta of 2.55. The company has a quick ratio of 1.55, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. Halliburton has a 12-month low of $4.25 and a 12-month high of $25.47. The firm’s 50-day moving average price is $13.02 and its two-hundred day moving average price is $13.61.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 20th. The oilfield services company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Halliburton had a negative net margin of 21.35% and a positive return on equity of 12.02%. The business’s revenue for the quarter was down 46.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, sell-side analysts expect that Halliburton will post 0.54 earnings per share for the current year.

Halliburton Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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