Citizens Financial Group Inc. RI Acquires Shares of 21,057 Halliburton Company $HAL

by · The Cerbat Gem

Citizens Financial Group Inc. RI acquired a new stake in shares of Halliburton Company (NYSE:HAL – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 21,057 shares of the oilfield services company’s stock, valued at approximately $715,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Halliburton in the 2nd quarter valued at approximately $2,812,327,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after purchasing an additional 19,190,520 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Halliburton in the second quarter worth $337,486,000. Finally, Norges Bank purchased a new stake in Halliburton in the fourth quarter worth $169,304,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Up 1.1%

Shares of Halliburton stock opened at $35.05 on Thursday. The company has a 50-day simple moving average of $34.11 and a two-hundred day simple moving average of $36.50. The stock has a market capitalization of $29.20 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. Halliburton Company has a 52-week low of $20.78 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02.

Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HAL. TD Cowen lowered their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Susquehanna reduced their target price on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Barclays reduced their target price on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and issued a $43.00 price target on shares of Halliburton in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Get Our Latest Analysis on Halliburton

Halliburton Profile

(Free Report)

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

Recommended Stories

Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton Company (NYSE:HAL – Free Report).