Kercheville Advisors LLC purchased a new stake in Halliburton Company (NYSE:HAL – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,050 shares of the oilfield services company’s stock, valued at approximately $665,000.
A number of other hedge funds also recently bought and sold shares of the business. Nvest Wealth Strategies Inc. purchased a new position in shares of Halliburton during the 4th quarter valued at approximately $25,000. Kelleher Financial Advisors purchased a new position in Halliburton during the third quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the second quarter valued at about $25,000. Zions Bancorporation National Association UT increased its stake in shares of Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC acquired a new position in shares of Halliburton during the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price target on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their price target on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zephirin Group lifted their target price on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Finally, Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, April 22nd. Eighteen 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. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $43.27.
Insider Activity at Halliburton
In other news, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the sale, the chief executive officer owned 1,013,027 shares in the company, valued at $40,521,080. This trade represents a 13.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider directly owned 93,763 shares in the company, valued at approximately $3,927,732.07. The trade was a 17.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 416,710 shares of company stock valued at $16,888,735 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.
Halliburton Stock Performance
Shares of Halliburton stock opened at $35.11 on Wednesday. The business’s 50 day moving average price is $39.56 and its 200 day moving average price is $35.56. The company has a market cap of $29.33 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. Halliburton Company has a one year low of $20.09 and a one year high of $43.59.
Halliburton (NYSE:HAL – Get Free Report) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts predict that Halliburton Company will post 2.34 EPS for the current year.
Halliburton Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.
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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