Cacti Asset Management buys $22 Million stake in Halliburton Company (HAL)

Halliburton Company (HAL) : Cacti Asset Management scooped up 11,955 additional shares in Halliburton Company during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 626,941 shares of Halliburton Company which is valued at $22 Million.Halliburton Company makes up approximately 2.37% of Cacti Asset Management’s portfolio.

On the company’s financial health, Halliburton Company reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 25, 2016. Analyst had a consensus of $0.24. The company had revenue of $5082.00 million for the quarter, compared to analysts expectations of $5127.16 million. The company’s revenue was down -42.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on Halliburton Company. Company shares were Reiterated by KLR Group on Apr 11, 2016 to “Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $48 .Halliburton Company was Initiated by Nomura to “Buy” on Apr 8, 2016. Shares were Reiterated by Deutsche Bank on Apr 6, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $53 .

Halliburton Company closed down -0.11 points or -0.29% at $37.22 with 82,97,367 shares getting traded on Monday. Post opening the session at $37.5, the shares hit an intraday low of $37.2 and an intraday high of $38.08 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates operate under two divisions which form the basis for its two operating segments: the Completion and Production segment and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing stimulation intervention pressure control specialty chemicals artificial lift and completion products and services. Production Enhancement services include stimulation services and sand control services. The Company’s Drilling and Evaluation segment provides field and reservoir modeling drilling evaluation and precise wellbore placement solutions. The Company conducts its business in approximately 80 countries.

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