Point72 Asia Singapore Pte. Ltd. Makes New $483,000 Investment in Halliburton (NYSE:HAL)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Halliburton (NYSE:HAL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,754 shares of the oilfield services company’s stock, valued at approximately $483,000.

Other hedge funds also recently made changes to their positions in the company. Mediolanum International Funds Ltd increased its position in Halliburton by 48.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock valued at $1,931,000 after purchasing an additional 23,340 shares during the period. Sei Investments Co. increased its position in shares of Halliburton by 18.2% during the fourth quarter. Sei Investments Co. now owns 278,934 shares of the oilfield services company’s stock worth $7,584,000 after buying an additional 42,876 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Halliburton by 3.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock worth $61,375,000 after buying an additional 80,567 shares during the last quarter. Congress Asset Management Co. bought a new stake in Halliburton in the fourth quarter worth approximately $621,000. Finally, Massachusetts Wealth Management increased its stake in shares of Halliburton by 180.9% in the 4th quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock valued at $1,188,000 after acquiring an additional 28,125 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Halliburton from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Halliburton in a report on Thursday, January 23rd. Citigroup decreased their target price on shares of Halliburton from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of Halliburton from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Benchmark lowered their price objective on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $33.84.

Halliburton Stock Performance

NYSE HAL opened at $21.03 on Friday. The firm has a market cap of $18.08 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $22.27 and its 200-day moving average is $25.97. Halliburton has a 12-month low of $18.72 and a 12-month high of $38.35.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. Sell-side analysts predict that Halliburton will post 2.64 earnings per share for the current year.

Insider Activity

In other news, CFO Eric Carre sold 51,179 shares of Halliburton stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.00, for a total transaction of $1,279,475.00. Following the completion of the sale, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,177,525. This trade represents a 28.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the transaction, the director now owns 10,551 shares in the company, valued at approximately $253,646.04. This trade represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,576 shares of company stock worth $1,631,457 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Halliburton Company 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.