Bank of Nova Scotia lowered its position in Halliburton (NYSE:HAL – Get Rating) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,972 shares of the oilfield services company’s stock after selling 36,862 shares during the quarter. Bank of Nova Scotia’s holdings in Halliburton were worth $2,415,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Halliburton by 8.1% during the first quarter. BlackRock Inc. now owns 72,922,850 shares of the oilfield services company’s stock valued at $2,761,589,000 after buying an additional 5,460,366 shares during the period. Capital World Investors grew its holdings in Halliburton by 1.5% during the 1st quarter. Capital World Investors now owns 61,612,082 shares of the oilfield services company’s stock worth $2,333,250,000 after acquiring an additional 915,157 shares in the last quarter. State Street Corp increased its position in Halliburton by 0.5% during the 1st quarter. State Street Corp now owns 57,765,090 shares of the oilfield services company’s stock valued at $2,187,564,000 after purchasing an additional 289,098 shares during the period. Capital Research Global Investors bought a new stake in shares of Halliburton in the 1st quarter valued at about $677,566,000. Finally, Van ECK Associates Corp lifted its position in shares of Halliburton by 35.0% in the 1st quarter. Van ECK Associates Corp now owns 14,448,376 shares of the oilfield services company’s stock worth $547,160,000 after purchasing an additional 3,747,392 shares during the period. Institutional investors own 80.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on HAL. StockNews.com began coverage on shares of Halliburton in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley upped their price objective on Halliburton from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 9th. TheStreet raised Halliburton from a “c” rating to a “b” rating in a research report on Tuesday, October 25th. Susquehanna boosted their price objective on shares of Halliburton from $48.00 to $51.00 in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company upgraded Halliburton from an “equal weight” rating to an “overweight” rating and set a $52.00 price target for the company in a research note on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $42.68.
Insider Transactions at Halliburton
Halliburton Price Performance
Shares of HAL opened at $37.85 on Thursday. The business’s 50-day moving average is $31.64 and its two-hundred day moving average is $32.37. The company has a market capitalization of $34.37 billion, a P/E ratio of 19.61 and a beta of 2.23. Halliburton has a fifty-two week low of $20.77 and a fifty-two week high of $43.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.10.
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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