Perigon Wealth Management LLC Buys Shares of 14,719 Halliburton Company $HAL

Perigon Wealth Management LLC purchased a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 14,719 shares of the oilfield services company’s stock, valued at approximately $500,000.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after purchasing an additional 6,507 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Halliburton by 39.0% in the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after buying an additional 20,583 shares during the period. Focus Partners Wealth boosted its holdings in shares of Halliburton by 25.0% in the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after buying an additional 10,408 shares during the period. Intech Investment Management LLC increased its position in shares of Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after acquiring an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Halliburton during the first quarter worth $895,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Griffin Securities raised Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, April 22nd. TD Cowen cut their price target on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research report on Sunday, April 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Trading Up 1.1%

Shares of NYSE:HAL opened at $35.05 on Thursday. Halliburton Company has a 52-week low of $20.78 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The company has a market capitalization of $29.20 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. The company has a 50-day simple moving average of $34.11 and a 200 day simple moving average of $36.50.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Company 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.