Wellington Management Group LLP lifted its position in shares of Halliburton Company (NYSE:HAL – Free Report) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,867,126 shares of the oilfield services company’s stock after acquiring an additional 111,836 shares during the quarter. Wellington Management Group LLP’s holdings in Halliburton were worth $63,389,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in HAL. Kelleher Financial Advisors acquired a new position in Halliburton during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the 2nd quarter valued at approximately $25,000. Kilter Group LLC acquired a new stake in shares of Halliburton in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Halliburton in the second quarter valued at approximately $26,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of Halliburton in the second quarter valued at approximately $28,000. 85.23% of the stock is owned by hedge funds and other institutional investors.
Halliburton Stock Performance
NYSE HAL opened at $37.67 on Thursday. The business has a 50 day moving average price of $33.96 and a 200 day moving average price of $36.60. The company has a market capitalization of $31.39 billion, a P/E ratio of 19.73, a PEG ratio of 2.12 and a beta of 0.76. Halliburton Company has a 1-year low of $21.40 and a 1-year high of $43.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50.
Halliburton Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Halliburton’s payout ratio is currently 35.60%.
Insider Activity
In other Halliburton news, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on HAL shares. BMO Capital Markets set a $37.00 price objective on Halliburton in a research report on Wednesday, July 22nd. Citigroup boosted their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. Capital One Financial increased their price target on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, UBS Group reduced their price objective on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average price target of $43.10.
Check Out Our Latest Stock Analysis on Halliburton
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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