Mitsubishi UFJ Asset Management Co. Ltd. Buys New Position in Halliburton Company $HAL

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,046,827 shares of the oilfield services company's stock, valued at approximately $69,489,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Halliburton at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Halliburton by 7.5% in 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 Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company's stock worth $1,861,000 after buying an additional 20,583 shares in the last quarter. Focus Partners Wealth boosted its holdings in Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company's stock worth $1,320,000 after buying an additional 10,408 shares in the last quarter. Intech Investment Management LLC grew its position in Halliburton by 309.1% in the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company's stock worth $1,749,000 after buying an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Halliburton in the first quarter valued at $895,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Eric Carre sold 24,778 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company's stock.

Halliburton Stock Performance

Shares of HAL opened at $35.05 on Thursday. The company has a market capitalization of $29.20 billion, a PE ratio of 18.35, a PEG ratio of 2.17 and a beta of 0.73. 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's 50 day moving average price is $34.11 and its 200 day moving average price is $36.50. Halliburton Company has a 52 week low of $20.78 and a 52 week high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company's revenue was up 3.7% compared to the same quarter last year. Research analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on HAL. Piper Sandler raised Halliburton from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. Rothschild & Co Redburn upped their target price on Halliburton from $40.00 to $49.00 and gave the company a "buy" rating in a report on Friday, May 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Halliburton in a research report on Wednesday, July 8th. Citigroup lifted their price target on Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Finally, Griffin Securities raised shares of Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and an average target price of $43.10.

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.

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