Venturi Wealth Management LLC Acquires 412 Shares of Halliburton (NYSE:HAL)

Venturi Wealth Management LLC raised its stake in shares of Halliburton (NYSE:HAL) by 34.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,618 shares of the oilfield services company’s stock after purchasing an additional 412 shares during the period. Venturi Wealth Management LLC’s holdings in Halliburton were worth $47,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after buying an additional 295 shares in the last quarter. Beacon Capital Management LLC grew 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 worth $54,000 after acquiring an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in shares of Halliburton by 3.1% in the second 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 raised its holdings in shares of Halliburton by 2.9% in the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares during the last quarter. Finally, Northwest Bank & Trust Co lifted its position in shares of Halliburton by 3.2% during the third 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 in the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $29.69 on Friday. The business’s fifty day moving average is $29.12 and its 200 day moving average is $32.30. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 3.70 and a beta of 1.89. 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 52-week low of $27.26 and a 52-week high of $41.56.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on HAL shares. The Goldman Sachs Group decreased their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Dbs Bank initiated coverage on Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target on the stock. UBS Group cut their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Halliburton in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Company 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.