Perigon Wealth Management LLC Buys New Stake in Halliburton Company $HAL

Perigon Wealth Management LLC purchased a new position in shares of Halliburton Company (NYSE:HAL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,719 shares of the oilfield services company’s stock, valued at approximately $500,000.

Other institutional investors also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of Halliburton during the 2nd quarter worth approximately $29,000. Nvest Wealth Strategies Inc. bought a new stake in Halliburton in the fourth quarter valued at $25,000. Zions Bancorporation National Association UT raised its stake in Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after acquiring an additional 650 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Halliburton during the first quarter valued at $39,000. Finally, Kelleher Financial Advisors bought a new position in shares of Halliburton during the third quarter valued at $25,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $47.00 target price on shares of Halliburton in a research report on Sunday, April 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Morgan Stanley cut their target price on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Susquehanna reduced their target price on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered Halliburton from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average target price of $43.10.

Insiders Place Their Bets

In related news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.

Halliburton Stock Performance

HAL stock opened at $35.05 on Thursday. The business’s fifty day moving average is $34.11 and its 200-day moving average is $36.50. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $29.20 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. Halliburton Company has a twelve month low of $20.78 and a twelve month high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Equities research analysts forecast that Halliburton Company will post 2.34 EPS for the current year.

Halliburton 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.