Traders Sell Shares of Halliburton Co. (HAL) on Strength After Insider Selling
Investors sold shares of Halliburton Co. (NYSE:HAL) on strength during trading hours on Thursday after an insider sold shares in the company. $40.71 million flowed into the stock on the tick-up and $80.19 million flowed out of the stock on the tick-down, for a money net flow of $39.48 million out of the stock. Of all equities tracked, Halliburton had the 5th highest net out-flow for the day. Halliburton traded up $0.06 for the day and closed at $47.02Specifically, insider James S. Brown sold 28,439 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $47.00, for a total transaction of $1,336,633.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.
HAL has been the topic of a number of recent analyst reports. Vetr upgraded Halliburton from a “hold” rating to a “buy” rating and set a $42.96 target price on the stock in a research note on Tuesday, September 13th. Societe Generale upgraded Halliburton from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Monday, October 3rd. Citigroup Inc. lifted their target price on Halliburton from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Group reiterated a “buy” rating on shares of Halliburton in a research note on Tuesday, August 30th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Halliburton in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $47.17.
The firm’s market cap is $40.49 billion. The stock’s 50-day moving average price is $43.58 and its 200 day moving average price is $42.41.
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Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The firm earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company earned $0.44 EPS. Halliburton’s quarterly revenue was down 35.2% compared to the same quarter last year. On average, analysts predict that Halliburton Co. will post ($0.18) EPS for the current year.
Large investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Halliburton by 46.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,002 shares of the oilfield services company’s stock worth $572,000 after buying an additional 5,110 shares during the period. Bessemer Group Inc. raised its stake in shares of Halliburton by 106.2% in the first quarter. Bessemer Group Inc. now owns 12,283 shares of the oilfield services company’s stock worth $439,000 after buying an additional 6,326 shares during the period. Huntington Asset Advisors Inc. purchased a new stake in shares of Halliburton during the first quarter worth $214,000. Investec Asset Management LTD raised its stake in shares of Halliburton by 162.0% in the first quarter. Investec Asset Management LTD now owns 624,419 shares of the oilfield services company’s stock worth $22,304,000 after buying an additional 386,094 shares during the period. Finally, ING Groep NV raised its stake in shares of Halliburton by 257.6% in the first quarter. ING Groep NV now owns 61,475 shares of the oilfield services company’s stock worth $2,197,000 after buying an additional 44,283 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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