DNB Asset Management AS Raises Stake in Halliburton (NYSE:HAL)

DNB Asset Management AS boosted its holdings in shares of Halliburton (NYSE:HALGet Rating) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,618 shares of the oilfield services company’s stock after acquiring an additional 10,623 shares during the period. DNB Asset Management AS’s holdings in Halliburton were worth $5,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Affinity Investment Advisors LLC raised its holdings in Halliburton by 1.2% in the fourth quarter. Affinity Investment Advisors LLC now owns 33,916 shares of the oilfield services company’s stock worth $776,000 after buying an additional 396 shares during the last quarter. Sheets Smith Wealth Management raised its holdings in Halliburton by 3.5% in the fourth quarter. Sheets Smith Wealth Management now owns 12,020 shares of the oilfield services company’s stock worth $275,000 after buying an additional 410 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Halliburton by 5.2% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,545 shares of the oilfield services company’s stock worth $241,000 after buying an additional 519 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Halliburton by 1.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 45,859 shares of the oilfield services company’s stock worth $1,049,000 after buying an additional 533 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Halliburton by 14.8% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,576 shares of the oilfield services company’s stock worth $105,000 after buying an additional 591 shares during the last quarter. 79.17% of the stock is owned by institutional investors.

In other Halliburton news, CEO Jeffrey Allen Miller sold 58,600 shares of the stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $40.00, for a total transaction of $2,344,000.00. Following the completion of the transaction, the chief executive officer now owns 850,421 shares in the company, valued at $34,016,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lawrence J. Pope sold 48,500 shares of the stock in a transaction on Friday, April 8th. The shares were sold at an average price of $39.95, for a total transaction of $1,937,575.00. Following the transaction, the executive vice president now owns 314,080 shares of the company’s stock, valued at approximately $12,547,496. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,412 shares of company stock valued at $8,432,979. 0.57% of the stock is owned by company insiders.

Shares of NYSE HAL opened at $32.09 on Thursday. The firm has a fifty day moving average price of $37.73 and a 200-day moving average price of $33.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.19 and a quick ratio of 1.61. The stock has a market cap of $28.94 billion, a PE ratio of 18.55 and a beta of 2.28. Halliburton has a 1 year low of $17.82 and a 1 year high of $43.99.

Halliburton (NYSE:HALGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Halliburton had a net margin of 9.61% and a return on equity of 17.83%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, research analysts expect that Halliburton will post 1.91 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. Halliburton’s dividend payout ratio is 27.75%.

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Halliburton from $32.00 to $42.00 in a report on Friday, April 8th. Citigroup lifted their price target on shares of Halliburton from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Morgan Stanley lifted their price target on shares of Halliburton from $32.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Barclays lifted their price target on shares of Halliburton from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Finally, HSBC upgraded shares of Halliburton from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.60 to $41.60 in a research note on Wednesday, April 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.08.

About Halliburton (Get Rating)

Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

Further Reading

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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