Assetmark Inc. Has $1.60 Million Stake in Halliburton (NYSE:HAL)

Assetmark Inc. increased its stake in shares of Halliburton (NYSE:HAL) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,164 shares of the oilfield services company’s stock after buying an additional 2,794 shares during the period. Assetmark Inc.’s holdings in Halliburton were worth $1,603,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HAL. Avantax Advisory Services Inc. raised its holdings in Halliburton by 64.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 22,681 shares of the oilfield services company’s stock worth $894,000 after purchasing an additional 8,854 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Halliburton by 7.5% in the first quarter. Bleakley Financial Group LLC now owns 16,159 shares of the oilfield services company’s stock valued at $637,000 after acquiring an additional 1,124 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Halliburton by 2.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 417,843 shares of the oilfield services company’s stock worth $16,471,000 after acquiring an additional 8,259 shares during the period. Banco Santander S.A. bought a new stake in shares of Halliburton during the 1st quarter valued at $1,088,000. Finally, Nicolet Advisory Services LLC lifted its stake in shares of Halliburton by 20.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 9,142 shares of the oilfield services company’s stock valued at $375,000 after purchasing an additional 1,572 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL stock opened at $30.13 on Friday. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The company’s fifty day simple moving average is $29.10 and its 200-day simple moving average is $32.31. The firm has a market cap of $26.47 billion, a PE ratio of 10.49, a P/E/G ratio of 3.70 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 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.79 earnings per share. Equities research analysts expect that Halliburton will post 3.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Dbs Bank assumed coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. TD Cowen decreased their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $44.00 to $37.00 in a report on Friday, September 13th. Finally, Barclays lowered their price objective on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a research report 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.79.

Halliburton 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.