Nikko Asset Management Americas Inc. decreased its stake in shares of Halliburton (NYSE:HAL) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,917 shares of the oilfield services company’s stock after selling 23,480 shares during the period. Nikko Asset Management Americas Inc. owned approximately 0.05% of Halliburton worth $10,345,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ellis Investment Partners LLC bought a new stake in Halliburton during the first quarter worth about $25,000. Paragon Capital Management LLC bought a new stake in Halliburton during the first quarter worth about $29,000. American Research & Management Co. bought a new stake in Halliburton during the first quarter worth about $29,000. Barnett & Company Inc. bought a new stake in Halliburton during the first quarter worth about $29,000. Finally, Asset Planning Services Ltd. boosted its stake in Halliburton by 903.2% during the second quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock worth $29,000 after acquiring an additional 1,129 shares in the last quarter. 77.35% of the stock is currently owned by hedge funds and other institutional investors.
Halliburton stock traded down $0.41 during trading hours on Friday, hitting $19.52. The stock had a trading volume of 13,352,861 shares, compared to its average volume of 14,367,291. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 1.59. The stock has a 50-day simple moving average of $22.47. Halliburton has a 12-month low of $19.11 and a 12-month high of $42.57. The company has a market cap of $17.21 billion, a PE ratio of 10.27, a P/E/G ratio of 2.32 and a beta of 1.30.
Several equities research analysts recently commented on the stock. Bank of America reissued a “buy” rating and set a $32.00 price objective (down previously from $42.00) on shares of Halliburton in a research note on Tuesday, June 25th. Cowen reaffirmed an “outperform” rating and issued a $35.00 target price (up from $33.00) on shares of Halliburton in a report on Tuesday, July 23rd. Piper Jaffray Companies set a $26.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, July 1st. Credit Suisse Group decreased their target price on shares of Halliburton from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, SunTrust Banks decreased their target price on shares of Halliburton to $39.00 and set an “average” rating for the company in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.78.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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