Private Advisory Group LLC grew its holdings in shares of Halliburton Company (NYSE:HAL – Free Report) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 339,941 shares of the oilfield services company’s stock after acquiring an additional 32,350 shares during the period. Private Advisory Group LLC’s holdings in Halliburton were worth $10,810,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in HAL. Bank of Nova Scotia increased its holdings in 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 worth $89,077,000 after purchasing an additional 1,286,095 shares in the last quarter. Carrhae Capital LLP raised its stake in shares of Halliburton by 21.5% in the second quarter. Carrhae Capital LLP now owns 726,193 shares of the oilfield services company’s stock worth $24,654,000 after purchasing an additional 128,472 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Halliburton by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 961,660 shares of the oilfield services company’s stock worth $32,648,000 after purchasing an additional 147,329 shares during the last quarter. Rokos Capital Management LLP bought a new position in shares of Halliburton in the first quarter valued at approximately $34,741,000. Finally, Readystate Asset Management LP bought a new position in shares of Halliburton in the first quarter valued at approximately $7,317,000. 85.23% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Argus cut their target price on Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on Halliburton from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Jefferies Financial Group increased their price target on 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 Halliburton from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Friday, October 2nd. Eighteen investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.86.
View Our Latest Stock Report on Halliburton
Insider Activity
In other news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 corporate insiders.
Halliburton Trading Down 0.5%
Shares of HAL stock opened at $32.75 on Friday. Halliburton Company has a 52-week low of $24.92 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.02. The company has a 50-day simple moving average of $33.74 and a two-hundred day simple moving average of $35.73. The company has a market capitalization of $27.09 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.91 and a beta of 0.76.
Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The oilfield services company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter last year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts anticipate that Halliburton Company will post 2.33 EPS for the current fiscal year.
Halliburton Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s dividend payout ratio is currently 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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