Westpac Banking Corp Acquires 3,714 Shares of Halliburton Company $HAL

Westpac Banking Corp lifted its holdings in shares of Halliburton Company (NYSE:HAL) by 75.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,654 shares of the oilfield services company’s stock after acquiring an additional 3,714 shares during the quarter. Westpac Banking Corp’s holdings in Halliburton were worth $176,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Halliburton by 450.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after purchasing an additional 24,506,472 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Halliburton by 0.4% in the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock valued at $453,461,000 after purchasing an additional 92,549 shares during the last quarter. Invesco Ltd. raised its position in shares of Halliburton by 7.3% in the first quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock valued at $274,349,000 after purchasing an additional 731,105 shares during the period. LSV Asset Management lifted its stake in shares of Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock worth $155,088,000 after buying an additional 193,022 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Halliburton by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock worth $133,949,000 after buying an additional 282,492 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 2.4%

Shares of NYSE HAL opened at $26.65 on Tuesday. The stock has a market capitalization of $22.43 billion, a P/E ratio of 17.65 and a beta of 1.03. The stock’s fifty day moving average is $24.73 and its 200 day moving average is $22.53. 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.

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

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on HAL. Stifel Nicolaus set a $32.00 price target on shares of Halliburton in a report on Wednesday, October 22nd. Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their price target on Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Redburn Partners set a $35.00 price target on Halliburton in a research note on Monday, November 3rd. Finally, Zephirin Group increased their price objective on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average price target of $31.55.

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.