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Is Halliburton Company (HAL) a Good Stock To Buy?

Because Halliburton Company (NYSE:HAL) has experienced falling interest from the entirety of the hedge funds we track, we can see that there were a few money managers that slashed their full holdings in the third quarter. Interestingly, Daniel S. Och’s OZ Management sold off the biggest position of the “upper crust” of funds monitored by Insider Monkey, worth about $216.1 million in stock. Stanley Druckenmiller’s fund, Duquesne Capital, also dumped all of its shares, about $98.6 million worth.

Let’s now review hedge fund activity in other stocks similar to Halliburton Company (NYSE:HAL). These stocks are PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), Illinois Tool Works Inc. (NYSE:ITW), Sony Corporation (ADR) (NYSE:SNE), and Regeneron Pharmaceuticals Inc (NASDAQ:REGN). This group of stocks’ market values are closest to HAL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
QQQ 24 1423248 4
ITW 33 702872 1
SNE 13 327337 -1
REGN 29 629847 -3

As you can see these stocks had an average of 25 investors holding shares at the end of September and the average amount invested in these stocks was $771 million. By comparison, hedge funds held much more invested in Halliburton – $1.80 billion. Illinois Tool Works Inc. (NYSE:ITW) is the most popular stock in this table. On the other hand Sony Corporation (ADR) (NYSE:SNE) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Halliburton Company (NYSE:HAL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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