Eastern Bank Lowers stake in Halliburton Company (HAL)

Halliburton Company (HAL) : Eastern Bank reduced its stake in Halliburton Company by 0.11% during the most recent quarter end. The investment management company now holds a total of 330,619 shares of Halliburton Company which is valued at $15,079,533 after selling 352 shares in Halliburton Company , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Halliburton Company makes up approximately 1.18% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Sumitomo Life Insurance Co reduced its stake in HAL by selling 1,101 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 31,295 shares of HAL which is valued at $1,427,365. Halliburton Company makes up approx 0.19% of Sumitomo Life Insurance Co’s portfolio.First Manhattan Co reduced its stake in HAL by selling 14,241 shares or 10.91% in the most recent quarter. The Hedge Fund company now holds 116,273 shares of HAL which is valued at $5,303,212. Halliburton Company makes up approx 0.03% of First Manhattan Co’s portfolio.Indiana Trust Investment Management Co boosted its stake in HAL in the latest quarter, The investment management firm added 253 additional shares and now holds a total of 7,123 shares of Halliburton Company which is valued at $310,064. Halliburton Company makes up approx 0.16% of Indiana Trust Investment Management Co’s portfolio.

Halliburton Company opened for trading at $45.17 and hit $45.61 on the upside on Monday, eventually ending the session at $45.61, with a gain of 0.33% or 0.15 points. The heightened volatility saw the trading volume jump to 61,05,889 shares. Company has a market cap of $39,191 M.

On the company’s financial health, Halliburton Company reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.04. The company had revenue of $4198.00 million for the quarter, compared to analysts expectations of $4147.00 million. The company’s revenue was down -40.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Halliburton Company. Halliburton Company was Downgraded by Societe Generale to ” Hold” on Jul 19, 2016. Company shares were Reiterated by KeyBanc Capital Mkts on Jun 21, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $45 .Company shares were Reiterated by Scotia Howard Weil on Jun 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 45 from a previous price target of $37 .

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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