Great Lakes Retirement Inc. Grows Position in Halliburton (NYSE:HAL)

Great Lakes Retirement Inc. lifted its position in shares of Halliburton (NYSE:HAL) by 8.2% during the first quarter, Holdings Channel.com reports. The firm owned 25,867 shares of the oilfield services company’s stock after acquiring an additional 1,960 shares during the period. Great Lakes Retirement Inc.’s holdings in Halliburton were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in Halliburton during the fourth quarter valued at $28,000. Horrell Capital Management Inc. purchased a new stake in shares of Halliburton during the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at about $36,000. Vermillion Wealth Management Inc. purchased a new position in shares of Halliburton in the 4th quarter valued at about $39,000. Finally, Blume Capital Management Inc. raised its holdings in Halliburton by 33.3% in the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after purchasing an additional 400 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Down 1.1%

Shares of NYSE HAL opened at $22.94 on Tuesday. The company has a market capitalization of $19.72 billion, a P/E ratio of 8.11, a P/E/G ratio of 3.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The company has a 50 day simple moving average of $20.82 and a 200-day simple moving average of $24.47. Halliburton has a 1 year low of $18.72 and a 1 year high of $37.08.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. On average, equities research analysts predict that Halliburton will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.68 annualized dividend and a yield of 2.96%. Halliburton’s dividend payout ratio (DPR) is currently 28.45%.

Analysts Set New Price Targets

Several analysts have commented on HAL shares. Wells Fargo & Company raised their price objective on Halliburton from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. UBS Group cut their price target on shares of Halliburton from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of Halliburton from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group dropped their target price on shares of Halliburton from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price target on shares of Halliburton from $34.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.58.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.