Cary Street Partners Asset Management LLC Cuts Stock Position in Halliburton (NYSE:HAL)

Cary Street Partners Asset Management LLC lessened its holdings in Halliburton (NYSE:HAL) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,862 shares of the oilfield services company’s stock after selling 1,353 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Halliburton were worth $2,887,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nvwm LLC increased its stake in Halliburton by 1.2% during the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock worth $922,000 after buying an additional 259 shares during the period. Stratos Wealth Advisors LLC increased its stake in Halliburton by 3.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock worth $308,000 after buying an additional 263 shares during the period. Lake Street Advisors Group LLC increased its stake in Halliburton by 2.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock worth $485,000 after buying an additional 268 shares during the period. Avantax Advisory Services Inc. increased its stake in Halliburton by 2.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 10,875 shares of the oilfield services company’s stock worth $440,000 after buying an additional 280 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Halliburton by 4.0% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,439 shares of the oilfield services company’s stock worth $301,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of NYSE HAL traded down $0.97 during midday trading on Wednesday, hitting $36.50. The company’s stock had a trading volume of 2,784,141 shares, compared to its average volume of 7,028,713. The firm has a market cap of $32.31 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.99 and a beta of 2.00. The firm’s fifty day moving average price is $38.00 and its 200-day moving average price is $37.28. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. On average, sell-side analysts forecast that Halliburton will post 3.4 EPS for the current fiscal year.

Insider Activity at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Barclays decreased their price objective on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a report on Wednesday, January 24th. Citigroup raised their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley raised their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.65.

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.