Pictet Asset Management Ltd. increased its stake in shares of Halliburton Company (NYSE:HAL) by 112.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 953,877 shares of the oilfield services company’s stock after purchasing an additional 505,004 shares during the period. Pictet Asset Management Ltd. owned 0.11% of Halliburton worth $43,907,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BB&T Securities LLC raised its position in shares of Halliburton by 25.3% during the 2nd quarter. BB&T Securities LLC now owns 56,135 shares of the oilfield services company’s stock worth $2,397,000 after purchasing an additional 11,334 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Halliburton by 16.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,885 shares of the oilfield services company’s stock worth $1,063,000 after purchasing an additional 3,510 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Halliburton during the 2nd quarter worth about $2,388,000. Airain ltd raised its position in shares of Halliburton by 31.8% during the 2nd quarter. Airain ltd now owns 491,492 shares of the oilfield services company’s stock worth $20,992,000 after purchasing an additional 118,512 shares during the last quarter. Finally, Marietta Investment Partners LLC raised its position in shares of Halliburton by 84.4% during the 1st quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock worth $1,473,000 after purchasing an additional 13,693 shares during the last quarter. Hedge funds and other institutional investors own 79.36% of the company’s stock.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.
Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. BidaskClub upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $52.00 price objective on shares of Halliburton in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Halliburton in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Halliburton currently has a consensus rating of “Buy” and a consensus price target of $57.55.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm earned $0.01 earnings per share. Halliburton’s revenue for the quarter was up 42.0% on a year-over-year basis.
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Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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