Thornburg Investment Management Inc. Lowers Stake in Halliburton (HAL)

Thornburg Investment Management Inc. cut its stake in shares of Halliburton (NYSE:HAL) by 73.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,234,151 shares of the oilfield services company’s stock after selling 3,381,308 shares during the period. Thornburg Investment Management Inc. owned 0.14% of Halliburton worth $50,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Avestar Capital LLC boosted its position in Halliburton by 1,159.6% during the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after purchasing an additional 2,180 shares during the period. Sun Life Financial INC boosted its position in Halliburton by 1,170.1% during the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after purchasing an additional 2,188 shares during the period. Squar Milner Financial Services LLC purchased a new stake in Halliburton during the 2nd quarter worth $130,000. Camarda Financial Advisors LLC purchased a new stake in Halliburton during the 3rd quarter worth $131,000. Finally, Banco de Sabadell S.A purchased a new stake in Halliburton during the 2nd quarter worth $136,000. 79.62% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. Royal Bank of Canada set a $54.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, July 24th. UBS Group set a $50.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Citigroup set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Societe Generale set a $42.00 price target on shares of Halliburton and gave the stock a “hold” rating in a research report on Monday, October 22nd. Finally, B. Riley set a $51.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $51.60.

NYSE:HAL opened at $35.83 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.31 and a quick ratio of 1.73. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 0.94 and a beta of 1.07. Halliburton has a 1-year low of $33.73 and a 1-year high of $57.86.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. As a group, sell-side analysts expect that Halliburton will post 1.86 earnings per share for the current fiscal year.

In other Halliburton news, insider James S. Brown sold 15,989 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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Halliburton Profile

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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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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