Major Move Is Coming For Halliburton Company After Bearish Options Activity

 Major Move Is Coming For Halliburton Company After Bearish Options Activity

In today’s session Halliburton Company (HAL) recorded an unusually high (916) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious HAL decrease. With 916 contracts traded and 258344 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: HAL161118P00047000 closed last at: $1.54 or 17.2% down. About 1.66 million shares traded hands. Halliburton Company (NYSE:HAL) has risen 34.83% since April 5, 2016 and is uptrending. It has outperformed by 32.87% the S&P500.

Halliburton Company (NYSE:HAL) Ratings Coverage

Out of 28 analysts covering Halliburton Company (NYSE:HAL), 24 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 86% are positive. $63 is the highest target while $16 is the lowest. The $48.12 average target is 2.10% above today’s ($47.13) stock price. Halliburton Company has been the topic of 86 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Citigroup maintained it with “Buy” rating and $48 target price in Wednesday, October 21 report. The rating was upgraded by KeyBanc Capital Markets on Tuesday, January 5 to “Overweight”. The stock of Halliburton Company (NYSE:HAL) has “Buy” rating given on Monday, May 9 by Goldman Sachs. On Wednesday, June 15 the stock rating was maintained by Howard Weil with “Sector Perform”. The firm has “Buy” rating by Societe Generale given on Monday, October 3. Argus Research maintained Halliburton Company (NYSE:HAL) rating on Tuesday, February 16. Argus Research has “Hold” rating and $38 price target. Citigroup maintained Halliburton Company (NYSE:HAL) rating on Wednesday, July 13. Citigroup has “Buy” rating and $52 price target. On Tuesday, January 26 the stock rating was maintained by Cowen & Co with “Market Perform”. FBR Capital maintained it with “Outperform” rating and $58 target price in Friday, October 14 report. The firm has “Overweight” rating by Barclays Capital given on Thursday, October 20.

According to Zacks Investment Research, “Halliburton is one of the world’s largest providers of products and services to the energy industry. The company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. The company operates under two main segments: Completion and Production, and Drilling and Evaluation.”

Insitutional Activity: The institutional sentiment increased to 0.85 in 2016 Q2. Its up 0.06, from 0.79 in 2016Q1. The ratio improved, as 74 funds sold all Halliburton Company shares owned while 330 reduced positions. 95 funds bought stakes while 250 increased positions. They now own 672.60 million shares or 0.48% less from 675.85 million shares in 2016Q1.
Cannell Peter B Com, a New York-based fund reported 7,720 shares. Lombard Odier Asset Mngmt (Usa) reported 171,536 shares or 0.94% of all its holdings. The Florida-based State Board Of Administration Of Florida Retirement has invested 0.18% in Halliburton Company (NYSE:HAL). Scotia has invested 0.02% of its portfolio in Halliburton Company (NYSE:HAL). The California-based First Quadrant Lp Ca has invested 0.02% in Halliburton Company (NYSE:HAL). Rainier Inv Management Lc accumulated 0.32% or 144,310 shares. Senator Invest Grp L P has 1.50 million shares for 1.09% of their US portfolio. Comml Bank Of America Corp De reported 5.57 million shares or 0.06% of all its holdings. Joel Isaacson & Limited Liability holds 0.01% or 600 shares in its portfolio. Golub Group Inc Limited Liability Company last reported 5,480 shares in the company. Moreover, Meyer Handelman Company has 0.51% invested in Halliburton Company (NYSE:HAL) for 250,800 shares. Credit Agricole S A last reported 0.19% of its portfolio in the stock. Freestone Capital Holdg Ltd Liability Com last reported 0.04% of its portfolio in the stock. Grp Inc Inc has 0% invested in the company for 287,877 shares. Moreover, Davidson Garrard Inc has 0.28% invested in Halliburton Company (NYSE:HAL) for 25,107 shares.

Insider Transactions: Since May 11, 2016, the stock had 0 buys, and 8 sales for $7.41 million net activity. LESAR DAVID J also sold $499,900 worth of Halliburton Company (NYSE:HAL) on Wednesday, October 19. Shares for $2.77 million were sold by Miller Jeffrey Allen. Carre Eric sold $421,900 worth of stock or 10,425 shares. $58,858 worth of Halliburton Company (NYSE:HAL) was sold by Rainey Joe D on Wednesday, October 19. 28,439 shares with value of $1.34 million were sold by Brown James S on Monday, October 10. On Wednesday, October 19 the insider Pope Lawrence J sold $520,520.

Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The company has a market cap of $40.74 billion. The Firm operates through two divisions: the Completion and Production segment, and the Drilling and Evaluation segment. It currently has negative earnings. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services and products.

HAL Company Profile

Halliburton Company, incorporated on November 7, 1996, is a well-known provider of services and products to the upstream oil and natural gas industry. The Firm operates through two divisions: 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 services and products. The Company’s Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation and wellbore placement solutions that enable clients to model, measure, drill, and manage its well construction activities. The Firm operates its business in approximately 80 countries.

More notable recent Halliburton Company (NYSE:HAL) news were published by: Seekingalpha.com which released: “Halliburton: Animal Spirits Are Likely Ethereal” on November 07, 2016, also Fool.com with their article: “Halliburton Company: The Oil Market Revival Is Just Around the Corner” published on October 30, 2016, Nasdaq.com published: “One Put, One Call Option To Know About for Halliburton Company” on October 31, 2016. More interesting news about Halliburton Company (NYSE:HAL) were released by: Investorplace.com and their article: “Halliburton Company (HAL) Stock Is Ready for a Comeback” published on October 20, 2016 as well as Bloomberg.com‘s news article titled: “GE Pounced With E-Mail to Baker Hughes After Halliburton Deal Died” with publication date: October 31, 2016.

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