Convergence Investment Partners LLC raised its stake in Halliburton Company (NYSE:HAL – Free Report) by 35.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,234 shares of the oilfield services company’s stock after acquiring an additional 20,156 shares during the quarter. Convergence Investment Partners LLC’s holdings in Halliburton were worth $3,011,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC increased its position in Halliburton by 10.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock worth $109,000 after purchasing an additional 258 shares in the last quarter. Vermillion Wealth Management Inc. raised its stake in Halliburton by 24.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock valued at $41,000 after purchasing an additional 289 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after purchasing an additional 349 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Halliburton by 7.3% in the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock valued at $150,000 after purchasing an additional 361 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Halliburton by 3.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after purchasing an additional 365 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Halliburton
In related news, insider Michael Casey Maxwell sold 20,348 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the transaction, the insider owned 93,763 shares in the company, valued at approximately $3,927,732.07. This trade represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This represents a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 258,255 shares of company stock valued at $10,550,535 over the last three months. Insiders own 0.57% of the company’s stock.
Halliburton Trading Down 0.1%
Halliburton (NYSE:HAL – Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. Halliburton’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts forecast that Halliburton Company will post 2.36 EPS for the current year.
Halliburton Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s dividend payout ratio is currently 37.36%.
Analyst Ratings Changes
HAL has been the subject of a number of recent research reports. Argus lifted their price target on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Stifel Nicolaus reissued a “buy” rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Rothschild & Co Redburn raised their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Morgan Stanley set a $41.00 target price on shares of Halliburton in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Nineteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.27.
Get Our Latest Analysis on HAL
About Halliburton
Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.
The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.
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