Halliburton Company (HAL) Stock Falls as Oil Hits 6 1/2 Year Low

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Halliburton Company (NYSE:HAL) shares are down significantly today, after the price of oil has fallen incredibly to its 6 1/2 year low. This fall in oil price has been due to both a strong U.S. dollar and the fact that the lateset OPEC meeting ended without an agreement to lower production.

Halliburton Company (NYSE:HAL) shareholders must see that if OPEC doesn’t lower production of oil, the price will continue to fall as supply increases. This potentially could be damaging to companies like Halliburton who rely on steady prices of the commodity.

Halliburton Company (NYSE:HAL), a company founded in 1919 by Eri P. Halliburton is currently headquartered in Houston, Texas. They are one of the world’s largest oil field service companies.

The stock is down 4.46% or $1.69 following the news, hitting $36.21 per share. Approximately 4.27M shares traded hands. HAL shares have declined 22.97% since May 4, 2015 and are currently downtrending. It has underperformed the S&P500 by 21.89%.

From a total of 18 analysts covering Halliburton Company (NYSE:HAL) stock, 14 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 78% of the ratings are positive. The highest target price is $59 while the lowest target price is $35. The mean of all analyst targets is $47.80 which is 32.01% above today’s ($36.21) stock price. Halliburton Company was the topic of 33 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on October 22 with a “Buy” rating. Evercore maintained shares with a”Buy” rating and a $59 target share price in their report from an August 22. Macquarie Research maintained HAL stock in a recent report from October 20 with a “Neutral” rating. Vetr downgraded the rating on August 11. Vetr has a “Strong-Buy” rating and a $46.53 price target on shares. Finally, FBR Capital maintained the stock with a “Market Perform” rating in a report they issued on a September 21.

The institutional sentiment increased to 0.96 in Q2 2015. It’s up 0.02, from 0.94 in 2015Q1. The ratio improved, as 75 funds sold all their Halliburton Company shares they owned while 363 reduced their positions. 103 funds bought stakes while 317 increased their total positions. Institutions now own 660.61 million shares which is 50.20% less than the previous share count of 1.33 billion in 2015Q1.

Segantii Capital Management Ltd holds 40.61% of its total portfolio in Halliburton Company, equating to 1.06 million shares. Energy Opportunities Capital Management Llc owns 914,971 shares representing 9.22% of their total US portfolio. Moreover, Valueact Holdings L.P. has 8.51% of their total portfolio invested in the company, equating to 37.52 million shares. The New York-based Brave Warrior Advisors Llc has a total of 7.15% of their portfolio invested in the stock. Tweedy Browne Co Llc, a Connecticut-based fund reported 5.31 million shares owned.

Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The company has a market cap of $32.27 billion. The Firm operates operate under two divisions, which form the basis for its two operating divisions: the Completion and Production segment, and the Drilling and Evaluation segment. It has 116.98 P/E ratio. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services and products.

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