Public Sector Pension Investment Board reduced its position in Halliburton (NYSE:HAL) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 151,337 shares of the oilfield services company’s stock after selling 17,790 shares during the period. Public Sector Pension Investment Board’s holdings in Halliburton were worth $3,703,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Atlas Private Wealth Management bought a new position in Halliburton during the 4th quarter worth about $29,000. PSI Advisors LLC purchased a new stake in shares of Halliburton during the 4th quarter valued at about $36,000. CENTRAL TRUST Co raised its holdings in shares of Halliburton by 1,987.4% during the 4th quarter. CENTRAL TRUST Co now owns 1,983 shares of the oilfield services company’s stock valued at $49,000 after buying an additional 1,888 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of Halliburton by 106.8% during the 4th quarter. Cornerstone Advisors Inc. now owns 2,082 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 1,075 shares during the period. Finally, Coastal Investment Advisors Inc. raised its holdings in shares of Halliburton by 189.3% during the 4th quarter. Coastal Investment Advisors Inc. now owns 2,445 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.
In related news, Director Murry Gerber acquired 155,763 shares of the stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $6.78 per share, for a total transaction of $1,056,073.14. Following the purchase, the director now owns 224,879 shares in the company, valued at approximately $1,524,679.62. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Lance Loeffler sold 10,105 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $21.51, for a total value of $217,358.55. Following the completion of the sale, the chief financial officer now owns 83,559 shares in the company, valued at $1,797,354.09. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
Several equities research analysts recently commented on HAL shares. Barclays reiterated a “hold” rating and set a $7.50 target price on shares of Halliburton in a report on Friday, March 20th. Scotiabank raised Halliburton from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 6th. Bank of America cut Halliburton from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Wells Fargo & Co boosted their price objective on Halliburton from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Finally, Bernstein Bank began coverage on Halliburton in a research report on Tuesday, January 14th. They set a “market perform” rating and a $15.90 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.94.
Halliburton stock traded up $0.28 during trading hours on Thursday, hitting $7.05. The stock had a trading volume of 32,790,478 shares, compared to its average volume of 36,944,436. The company has a 50-day moving average of $15.34 and a two-hundred day moving average of $19.95. The company has a quick ratio of 1.65, a current ratio of 2.30 and a debt-to-equity ratio of 1.39. The company has a market cap of $5.83 billion, a PE ratio of -5.51, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. Halliburton has a fifty-two week low of $4.25 and a fifty-two week high of $32.30.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, January 21st. The oilfield services company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Halliburton had a positive return on equity of 11.74% and a negative net margin of 5.05%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, analysts forecast that Halliburton will post 0.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a $0.18 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $0.72 annualized dividend and a yield of 10.21%. Halliburton’s dividend payout ratio (DPR) is 58.06%.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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