M&T Bank Corp Has $15.49 Million Holdings in Halliburton (NYSE:HAL)

M&T Bank Corp lowered its stake in Halliburton (NYSE:HAL) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,582 shares of the oilfield services company’s stock after selling 43,300 shares during the quarter. M&T Bank Corp’s holdings in Halliburton were worth $15,493,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HAL. Cambridge Investment Research Advisors Inc. boosted its position in shares of Halliburton by 106.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 185,217 shares of the oilfield services company’s stock worth $7,501,000 after purchasing an additional 95,487 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in Halliburton in the third quarter worth approximately $229,000. Stratos Wealth Advisors LLC grew its stake in Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after acquiring an additional 263 shares during the period. NorthRock Partners LLC bought a new stake in shares of Halliburton during the third quarter valued at approximately $208,000. Finally, Everhart Financial Group Inc. bought a new position in shares of Halliburton in the 3rd quarter worth $213,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on HAL shares. TD Cowen upped their price objective on shares of Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Raymond James dropped their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their price objective on Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Citigroup increased their price target on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group lifted their price objective on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.59.

Insider Activity

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction 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 transaction, 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. Insiders own 0.61% of the company’s stock.

Halliburton Stock Performance

HAL stock traded up $0.03 during mid-day trading on Friday, hitting $36.73. The company had a trading volume of 3,899,005 shares, compared to its average volume of 6,076,928. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12. The firm has a market cap of $32.52 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.93 and a beta of 2.01. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock’s fifty day moving average price is $38.08 and its two-hundred day moving average price is $37.23.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. Halliburton’s revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Halliburton will post 3.39 earnings per share for the current fiscal year.

Halliburton Company Profile

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.