CIBC Asset Management Inc Purchases 9,611 Shares of Halliburton (NYSE:HAL)

CIBC Asset Management Inc boosted its holdings in shares of Halliburton (NYSE:HAL) by 8.1% in the 3rd quarter, Holdings Channel reports. The firm owned 128,895 shares of the oilfield services company’s stock after buying an additional 9,611 shares during the period. CIBC Asset Management Inc’s holdings in Halliburton were worth $3,744,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in Halliburton by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after buying an additional 295 shares in the last quarter. Beacon Capital Management LLC boosted its stake in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its holdings in shares of Halliburton by 3.1% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after purchasing an additional 330 shares during the last quarter. Moody National Bank Trust Division increased its position in Halliburton by 2.9% during the 2nd quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after purchasing an additional 336 shares in the last quarter. Finally, Northwest Bank & Trust Co lifted its stake in Halliburton by 3.2% in the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after purchasing an additional 397 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

HAL has been the topic of a number of research reports. BMO Capital Markets decreased their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Bank of America cut their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Dbs Bank began coverage on Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. cut their price target on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Barclays dropped their price objective on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Stock Up 2.6 %

HAL stock opened at $30.45 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The stock’s 50 day simple moving average is $29.18 and its 200 day simple moving average is $32.12. The company has a market cap of $26.75 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 3.64 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. On average, research analysts expect that Halliburton will post 3.02 earnings per share for the current fiscal year.

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.