Victory Capital Management Inc. Raises Holdings in Halliburton (NYSE:HAL)

Victory Capital Management Inc. grew its stake in shares of Halliburton (NYSE:HAL) by 24.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 947,191 shares of the oilfield services company’s stock after acquiring an additional 186,538 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Halliburton worth $27,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Country Trust Bank purchased a new position in shares of Halliburton in the third quarter worth $36,000. Bruce G. Allen Investments LLC raised its stake in Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Halliburton during the 3rd quarter worth about $44,000. Crewe Advisors LLC purchased a new stake in Halliburton during the 1st quarter valued at about $46,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore ISI dropped their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company cut their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Halliburton in a research report on Friday, November 8th. BMO Capital Markets lowered their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Finally, Jefferies Financial Group reduced their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $40.79.

Halliburton Price Performance

Shares of NYSE HAL opened at $29.69 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The firm has a fifty day moving average of $29.14 and a 200 day moving average of $32.17. The firm has a market cap of $26.08 billion, a PE ratio of 10.34, a PEG ratio of 3.64 and a beta of 1.89. Halliburton has a one year low of $27.26 and a one year high of $41.56.

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

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.