Halliburton (HAL) Position Increased by Reliance Trust Co. of Delaware

Reliance Trust Co. of Delaware increased its holdings in shares of Halliburton (NYSE:HAL) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,477 shares of the oilfield services company’s stock after buying an additional 6,233 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Halliburton were worth $1,275,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HAL. Ardsley Advisory Partners acquired a new position in Halliburton in the 2nd quarter worth about $4,957,000. Canada Pension Plan Investment Board increased its holdings in Halliburton by 10.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 617,412 shares of the oilfield services company’s stock worth $27,821,000 after purchasing an additional 56,586 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Halliburton by 11.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 56,146 shares of the oilfield services company’s stock worth $2,530,000 after purchasing an additional 5,745 shares in the last quarter. Investec Asset Management LTD increased its holdings in Halliburton by 16.1% in the 2nd quarter. Investec Asset Management LTD now owns 41,929 shares of the oilfield services company’s stock worth $1,889,000 after purchasing an additional 5,802 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Halliburton by 1,183.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,231 shares of the oilfield services company’s stock worth $686,000 after purchasing an additional 14,044 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

In related news, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total transaction of $648,034.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

HAL has been the subject of a number of recent research reports. Morgan Stanley reaffirmed a “buy” rating on shares of Halliburton in a report on Tuesday, October 23rd. Royal Bank of Canada set a $56.00 target price on Halliburton and gave the stock a “buy” rating in a report on Monday, October 22nd. B. Riley set a $51.00 target price on Halliburton and gave the stock a “buy” rating in a report on Thursday, July 26th. Raymond James lowered their target price on Halliburton from $59.00 to $55.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 11th. Finally, Societe Generale set a $42.00 target price on Halliburton and gave the stock a “hold” rating in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $51.60.

NYSE HAL opened at $35.44 on Wednesday. Halliburton has a one year low of $33.73 and a one year high of $57.86. The company has a market cap of $30.78 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 0.93 and a beta of 1.01. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 1.16.

Halliburton (NYSE:HAL) last released its earnings results on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Halliburton had a return on equity of 20.42% and a net margin of 0.70%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, research analysts predict that Halliburton will post 1.86 EPS for the current fiscal year.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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