Jennison Associates LLC Raises Stock Position in Halliburton (NYSE:HAL)

Jennison Associates LLC raised its holdings in Halliburton (NYSE:HAL) by 51.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,539,062 shares of the oilfield services company’s stock after purchasing an additional 859,440 shares during the quarter. Jennison Associates LLC owned 0.28% of Halliburton worth $91,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HAL. Ancora Advisors LLC boosted its stake in shares of Halliburton by 443.8% in the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after buying an additional 719 shares during the last quarter. Ogorek Anthony Joseph NY ADV lifted its position in shares of Halliburton by 1,134.6% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 1,000 shares of the oilfield services company’s stock valued at $40,000 after buying an additional 919 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Halliburton in the fourth quarter valued at about $36,000. Criterion Capital Advisors LLC acquired a new stake in Halliburton in the 4th quarter worth about $37,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Halliburton during the fourth quarter valued at approximately $38,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HAL. Raymond James lowered their price target on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. UBS Group increased their target price on shares of Halliburton from $44.00 to $48.00 in a research report on Monday, January 22nd. Susquehanna reissued a “positive” rating and issued a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. Barclays cut their price objective on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Halliburton currently has a consensus rating of “Buy” and a consensus price target of $48.53.

Insider Activity at Halliburton

In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Halliburton Stock Down 1.0 %

HAL stock opened at $38.70 on Tuesday. The company has a market cap of $34.30 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The company has a fifty day moving average price of $37.57 and a 200 day moving average price of $37.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, January 23rd. The oilfield services company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Halliburton will post 3.42 earnings per share for the current year.

About Halliburton

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.