M&G PLC boosted its position in Halliburton Company (NYSE:HAL – Free Report) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 438,185 shares of the oilfield services company’s stock after acquiring an additional 76,096 shares during the quarter. M&G PLC owned 0.05% of Halliburton worth $14,022,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Halliburton in the 2nd quarter valued at about $2,812,327,000. State Street Corp increased its position in Halliburton by 4.5% during the 2nd quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company’s stock worth $1,930,752,000 after purchasing an additional 2,463,137 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Halliburton by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company’s stock worth $370,556,000 after purchasing an additional 367,701 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Halliburton in the second quarter valued at approximately $345,941,000. Finally, Bank of New York Mellon Corp purchased a new position in Halliburton in the second quarter valued at approximately $337,486,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. UBS Group dropped their price objective on shares of Halliburton from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Freedom Broker raised shares of Halliburton from a “hold” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $40.00 in a research report on Thursday, October 22nd. Morgan Stanley cut their target price on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Argus reduced their target price on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.
Get Our Latest Stock Report on HAL
Insiders Place Their Bets
In other news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by insiders.
Halliburton Trading Down 0.1%
NYSE HAL opened at $31.83 on Wednesday. The stock has a market cap of $26.33 billion, a P/E ratio of 13.34, a PEG ratio of 1.85 and a beta of 0.76. The company’s fifty day simple moving average is $33.92 and its 200-day simple moving average is $35.74. The company has a current ratio of 2.02, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. Halliburton Company has a 52 week low of $24.92 and a 52 week high of $43.59.
Halliburton (NYSE:HAL – Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period last year, the business earned $0.58 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Halliburton Company will post 2.33 EPS for the current fiscal year.
Halliburton Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, December 2nd. Halliburton’s dividend payout ratio is presently 28.45%.
Halliburton Profile
Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well. Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.
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