OMERS ADMINISTRATION Corp raised its holdings in shares of Halliburton Company (NYSE:HAL – Free Report) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,531 shares of the oilfield services company’s stock after purchasing an additional 16,873 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Halliburton were worth $4,700,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HAL. Bank of Nova Scotia grew its stake in shares of Halliburton by 128.8% during the 1st quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company’s stock valued at $89,077,000 after purchasing an additional 1,286,095 shares during the period. QV Investors Inc. bought a new position in shares of Halliburton in the fourth quarter worth approximately $3,195,000. ABN Amro Investment Solutions bought a new position in Halliburton in the 4th quarter worth $827,000. K.J. Harrison & Partners Inc grew its position in shares of Halliburton by 172.6% during the fourth quarter. K.J. Harrison & Partners Inc now owns 110,000 shares of the oilfield services company’s stock worth $3,109,000 after purchasing an additional 69,644 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its stake in Halliburton by 22.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 373,949 shares of the oilfield services company’s stock worth $10,568,000 after purchasing an additional 67,369 shares during the period. Institutional investors own 85.23% of the company’s stock.
Halliburton Stock Down 3.7%
NYSE:HAL opened at $32.14 on Tuesday. The stock has a market capitalization of $26.85 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.54 and a beta of 0.71. Halliburton Company has a fifty-two week low of $20.39 and a fifty-two week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The company’s 50-day simple moving average is $36.73 and its 200-day simple moving average is $36.49.
Halliburton Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s payout ratio is currently 35.60%.
Analysts Set New Price Targets
A number of brokerages have issued reports on HAL. Morgan Stanley cut their price objective on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 target price on Halliburton in a report on Wednesday, July 22nd. Rothschild & Co Redburn upped their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wolfe Research initiated coverage on Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen lowered shares of Halliburton from a “buy” rating to a “hold” rating in a report on Saturday. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.10.
Read Our Latest Stock Report on HAL
Insider Buying and Selling at Halliburton
In other news, insider Michael Casey Maxwell sold 20,348 shares of Halliburton stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares of the company’s stock, valued at $3,927,732.07. The trade was a 17.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Halliburton stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the transaction, the executive vice president directly owned 146,186 shares of the company’s stock, valued at $6,036,019.94. The trade was a 57.57% decrease in their position. 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. In the last quarter, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is owned by corporate insiders.
Halliburton Profile
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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