Envestnet Asset Management Inc. Sells 175,404 Shares of Halliburton Company $HAL

Envestnet Asset Management Inc. lessened its position in shares of Halliburton Company (NYSE:HAL) by 43.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,128 shares of the oilfield services company’s stock after selling 175,404 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Halliburton were worth $4,629,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of Halliburton in the first quarter valued at $30,000. Zions Bancorporation National Association UT bought a new position in Halliburton during the first quarter valued at $37,000. CVA Family Office LLC grew its stake in shares of Halliburton by 94.8% in the 2nd quarter. CVA Family Office LLC now owns 1,882 shares of the oilfield services company’s stock worth $38,000 after buying an additional 916 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Halliburton by 109.5% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock worth $39,000 after buying an additional 993 shares in the last quarter. Finally, McIlrath & Eck LLC increased its holdings in shares of Halliburton by 756.2% in the 1st quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock worth $54,000 after buying an additional 1,883 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

Shares of HAL stock opened at $27.02 on Friday. The stock has a 50 day moving average price of $24.53 and a 200 day moving average price of $22.41. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. The firm has a market capitalization of $22.74 billion, a P/E ratio of 17.89 and a beta of 1.03.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company posted $0.73 EPS. Halliburton’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Susquehanna increased their price target on shares of Halliburton from $27.00 to $29.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Barclays raised their price objective on Halliburton from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Bank of America boosted their target price on Halliburton from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Zephirin Group increased their price target on Halliburton from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group raised their price target on Halliburton from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.48.

Insider Activity at Halliburton

In related news, insider Mark Richard sold 160,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $27.77, for a total value of $4,443,200.00. Following the transaction, the insider owned 452,374 shares of the company’s stock, valued at $12,562,425.98. This trade represents a 26.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

About Halliburton

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.