CIBC Asset Management Inc Buys 9,611 Shares of Halliburton (NYSE:HAL)

CIBC Asset Management Inc grew its position in Halliburton (NYSE:HAL) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,895 shares of the oilfield services company’s stock after acquiring an additional 9,611 shares during the period. CIBC Asset Management Inc’s holdings in Halliburton were worth $3,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of HAL. Bruce G. Allen Investments LLC lifted its position in Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after buying an additional 822 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Halliburton during the first quarter worth approximately $46,000. Country Trust Bank bought a new stake in shares of Halliburton during the third quarter valued at approximately $36,000. Beacon Capital Management LLC increased its holdings in shares of Halliburton by 28.8% in the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE HAL opened at $30.45 on Tuesday. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The firm has a 50-day moving average price of $29.18 and a two-hundred day moving average price of $32.12. The company has a market capitalization of $26.75 billion, a P/E ratio of 10.61, a P/E/G ratio of 3.64 and a beta of 1.89. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (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 analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Analysts anticipate that Halliburton will post 3.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus lowered their price objective on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Evercore ISI reduced their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Bank of America reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $44.00 to $37.00 in a research report on Friday, September 13th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.74.

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.