State of New Jersey Common Pension Fund D Has $7.08 Million Stake in Halliburton Company $HAL

State of New Jersey Common Pension Fund D lifted its stake in Halliburton Company (NYSE:HAL) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 287,706 shares of the oilfield services company’s stock after buying an additional 25,432 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Halliburton were worth $7,078,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton during the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in Halliburton in the third quarter worth $25,000. Rakuten Securities Inc. boosted its stake in Halliburton by 547.3% during the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after buying an additional 1,341 shares in the last quarter. Root Financial Partners LLC bought a new stake in Halliburton in the 3rd quarter valued at $32,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of Halliburton by 111.9% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after buying an additional 900 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Halliburton

In other news, EVP Van H. Beckwith sold 54,348 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares in the company, valued at approximately $12,044,943.60. This represents a 13.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $34.17, for a total transaction of $88,842.00. Following the completion of the sale, the director directly owned 14,043 shares of the company’s stock, valued at approximately $479,849.31. This represents a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 337,002 shares of company stock worth $11,445,938. 0.56% of the stock is owned by insiders.

Halliburton Trading Up 3.1%

HAL stock opened at $34.75 on Thursday. The business has a fifty day moving average price of $31.57 and a 200 day moving average price of $26.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $35.55. The stock has a market capitalization of $29.11 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.01 and a beta of 0.77.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HAL has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on shares of Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Capital One Financial upped their price objective on Halliburton from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Zephirin Group cut Halliburton from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $28.00 in a report on Friday, January 23rd. Wall Street Zen upgraded Halliburton from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, JPMorgan Chase & Co. upped their price target on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.95.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.