Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Halliburton Company (NYSE:HAL – Free Report) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 310,629 shares of the oilfield services company’s stock after purchasing an additional 39,453 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Halliburton were worth $12,111,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new position in Halliburton in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT grew its stake in 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 buying an additional 650 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in Halliburton during the third quarter worth about $25,000. DV Equities LLC bought a new position in Halliburton in the 4th quarter valued at about $33,000. Finally, MV Capital Management Inc. bought a new position in Halliburton in the 4th quarter valued at about $33,000. Institutional investors own 85.23% of the company’s stock.
Halliburton Stock Down 2.8%
Shares of HAL opened at $33.00 on Thursday. 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 52 week low of $20.17 and a 52 week high of $43.59. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.47 and a beta of 0.72. The stock has a fifty day moving average of $39.12 and a 200-day moving average of $35.79.
Halliburton Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s dividend payout ratio is currently 37.36%.
Insiders Place Their Bets
In related news, insider Michael Casey Maxwell sold 20,348 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider owned 93,763 shares in the company, valued at $3,927,732.07. This trade represents a 17.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their ownership of the stock. 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. Insiders have sold 258,255 shares of company stock worth $10,550,535 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on HAL shares. HSBC boosted their target price on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Argus lifted their price objective on shares of Halliburton from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating and set a $47.00 target price on shares of Halliburton in a research note on Sunday, April 26th. JPMorgan Chase & Co. raised their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $37.00 to $55.00 in a research note on Thursday, May 7th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.27.
Get Our Latest Analysis on HAL
Halliburton Company 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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