Halliburton Company $HAL Holdings Cut by Allianz SE

Allianz SE lowered its stake in shares of Halliburton Company (NYSE:HAL) by 73.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,110 shares of the oilfield services company’s stock after selling 35,704 shares during the period. Allianz SE’s holdings in Halliburton were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HAL. Charles Schwab Investment Management Inc. raised its holdings in shares of Halliburton by 450.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock worth $759,623,000 after acquiring an additional 24,506,472 shares in the last quarter. AQR Capital Management LLC grew its stake in Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after purchasing an additional 3,178,746 shares in the last quarter. Nuveen LLC acquired a new position in Halliburton in the 1st quarter worth about $72,637,000. Pzena Investment Management LLC increased its position in Halliburton by 134.7% in the 2nd quarter. Pzena Investment Management LLC now owns 3,734,069 shares of the oilfield services company’s stock worth $76,100,000 after purchasing an additional 2,142,939 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Halliburton by 292.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,807,084 shares of the oilfield services company’s stock worth $57,208,000 after purchasing an additional 2,091,872 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Mark Richard sold 160,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the sale, the insider directly owned 452,374 shares in the company, valued at approximately $12,562,425.98. This represents a 26.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus set a $32.00 price target on Halliburton in a research note on Wednesday, October 22nd. Rothschild Redb upgraded shares of Halliburton to a “strong-buy” rating in a research note on Monday, November 3rd. Zacks Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Redburn Partners set a $35.00 price target on shares of Halliburton in a research note on Monday, November 3rd. Finally, Rothschild & Co Redburn assumed coverage on shares of Halliburton in a report on Monday, November 3rd. They set a “buy” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.48.

Halliburton Trading Up 0.3%

Shares of Halliburton stock opened at $27.02 on Friday. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The firm has a market capitalization of $22.74 billion, a PE ratio of 17.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.95 and a quick ratio of 1.43. The company’s fifty day moving average price is $24.53 and its two-hundred day moving average price is $22.41.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. On average, analysts expect that Halliburton Company will post 2.64 EPS for the current 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.