Eastern Bank Lowers stake in Halliburton Company (HAL)

Halliburton Company (HAL) : Eastern Bank reduced its stake in Halliburton Company by 12.97% during the most recent quarter end. The investment management company now holds a total of 287,742 shares of Halliburton Company which is valued at $13,515,242 after selling 42,877 shares in Halliburton Company , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Halliburton Company makes up approximately 1.10% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Gemmer Asset Management boosted its stake in HAL in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 472 shares of Halliburton Company which is valued at $22,170. Halliburton Company makes up approx 0.01% of Gemmer Asset Management’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in HAL in the latest quarter, The investment management firm added 5,525 additional shares and now holds a total of 214,496 shares of Halliburton Company which is valued at $10,074,877. Halliburton Company makes up approx 0.22% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.British Columbia Investment Management Corp reduced its stake in HAL by selling 51,275 shares or 16.07% in the most recent quarter. The Hedge Fund company now holds 267,718 shares of HAL which is valued at $12,486,368. Halliburton Company makes up approx 0.13% of British Columbia Investment Management Corp’s portfolio.Fruth Investment Management reduced its stake in HAL by selling 100 shares or 1.1% in the most recent quarter. The Hedge Fund company now holds 9,017 shares of HAL which is valued at $420,553. Halliburton Company makes up approx 0.21% of Fruth Investment Management’s portfolio.Atria Investments boosted its stake in HAL in the latest quarter, The investment management firm added 2,505 additional shares and now holds a total of 11,212 shares of Halliburton Company which is valued at $522,928. Halliburton Company makes up approx 0.05% of Atria Investments’s portfolio.

Halliburton Company closed down -0.05 points or -0.11% at $46.97 with 73,53,354 shares getting traded on Friday. Post opening the session at $47.46, the shares hit an intraday low of $46.84 and an intraday high of $47.83 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Halliburton Company reported $-0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $-0.19. The company had revenue of $3835.00 million for the quarter, compared to analysts expectations of $3760.48 million. The company’s revenue was down -35.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Halliburton Company. Company shares were Reiterated by FBR & Co. on Oct 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 58 from a previous price target of $53 .Halliburton Company was Upgraded by Societe Generale to ” Buy” on Oct 3, 2016. Company shares were Reiterated by FBR Capital on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 53 from a previous price target of $49 .

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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