Lincoln National Corp Purchases Shares of 5,551 Halliburton (NYSE:HAL)

Lincoln National Corp purchased a new stake in shares of Halliburton (NYSE:HAL – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,551 shares of the oilfield services company’s stock, valued at approximately $218,000.

Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of Halliburton by 259.5% during the 1st quarter. Sei Investments Co. now owns 166,407 shares of the oilfield services company’s stock worth $6,281,000 after purchasing an additional 120,122 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Halliburton by 70.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 128,001 shares of the oilfield services company’s stock worth $4,847,000 after acquiring an additional 52,933 shares in the last quarter. Prudential PLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $696,000. Parkside Financial Bank & Trust increased its holdings in shares of Halliburton by 81.5% in the first quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company’s stock valued at $89,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Halliburton by 83.7% in the first quarter. Covestor Ltd now owns 3,384 shares of the oilfield services company’s stock valued at $128,000 after acquiring an additional 1,542 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HAL. Barclays upped their price objective on Halliburton from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, January 25th. UBS Group initiated coverage on Halliburton in a research report on Wednesday, April 19th. They set a “buy” rating and a $49.00 price target on the stock. Wolfe Research raised Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research report on Thursday, January 12th. The Goldman Sachs Group raised their price target on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Finally, StockNews.com raised shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $48.24.

Halliburton Stock Down 1.8 %

HAL opened at $29.56 on Thursday. Halliburton has a 1-year low of $23.30 and a 1-year high of $43.99. The stock has a market cap of $26.67 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.38 and a beta of 2.11. The stock’s fifty day simple moving average is $32.68 and its 200 day simple moving average is $36.19. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 0.94.

Halliburton (NYSE:HAL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The oilfield services company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.49 billion. Halliburton had a net margin of 9.04% and a return on equity of 29.38%. Halliburton’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, research analysts expect that Halliburton will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 2,769 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $38.79, for a total transaction of $107,409.51. Following the transaction, the director now owns 11,856 shares in the company, valued at approximately $459,894.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Charles Jr. Geer sold 12,065 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $30.60, for a total transaction of $369,189.00. Following the completion of the sale, the chief accounting officer now owns 52,817 shares of the company’s stock, valued at $1,616,200.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 2,769 shares of the firm’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $38.79, for a total value of $107,409.51. Following the sale, the director now directly owns 11,856 shares of the company’s stock, valued at approximately $459,894.24. The disclosure for this sale can be found here. Insiders sold 286,117 shares of company stock worth $8,682,909 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Halliburton Profile

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.