Point72 Asia Singapore Pte. Ltd. Invests $483,000 in Halliburton (NYSE:HAL)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Halliburton (NYSE:HAL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,754 shares of the oilfield services company's stock, valued at approximately $483,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Halliburton during the 4th quarter worth $299,986,000. Amundi raised its holdings in shares of Halliburton by 22.2% during the 4th quarter. Amundi now owns 13,068,025 shares of the oilfield services company's stock valued at $353,242,000 after buying an additional 2,378,043 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Halliburton by 15.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after acquiring an additional 2,171,722 shares during the period. Pacer Advisors Inc. grew its position in Halliburton by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company's stock valued at $503,856,000 after acquiring an additional 1,748,763 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $41,484,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HAL. Barclays cut their price objective on shares of Halliburton from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Citigroup dropped their price objective on Halliburton from $33.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada reiterated a "sector perform" rating and set a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Stifel Nicolaus decreased their price target on shares of Halliburton from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and an average price target of $33.53.

Halliburton Price Performance

Shares of HAL traded down $0.43 during midday trading on Wednesday, reaching $20.05. The stock had a trading volume of 4,420,437 shares, compared to its average volume of 10,504,434. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The company has a market capitalization of $17.23 billion, a P/E ratio of 7.08, a P/E/G ratio of 3.79 and a beta of 1.19. The firm's 50 day moving average price is $22.05 and its 200-day moving average price is $25.81. Halliburton has a 52 week low of $18.72 and a 52 week high of $38.35.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.28 billion. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. On average, analysts forecast that Halliburton will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Halliburton news, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.60, for a total transaction of $258,226.20. Following the transaction, the vice president now owns 77,784 shares of the company's stock, valued at $1,913,486.40. The trade was a 11.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares of the company's stock, valued at $253,646.04. This trade represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,576 shares of company stock worth $1,631,457 in the last three months. 0.56% of the stock is currently owned by insiders.

Halliburton 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.