Stephens Inc. AR acquired a new stake in shares of Halliburton (NYSE:HAL – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,602 shares of the oilfield services company’s stock, valued at approximately $288,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Halliburton during the 4th quarter valued at $487,897,000. BlackRock Inc. raised its stake in Halliburton by 6.4% during the 4th quarter. BlackRock Inc. now owns 67,462,484 shares of the oilfield services company’s stock valued at $1,542,867,000 after purchasing an additional 4,047,725 shares during the period. Invesco Ltd. raised its stake in Halliburton by 41.5% during the 4th quarter. Invesco Ltd. now owns 8,959,952 shares of the oilfield services company’s stock valued at $204,914,000 after purchasing an additional 2,629,058 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Halliburton by 30.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,593,086 shares of the oilfield services company’s stock valued at $195,617,000 after purchasing an additional 2,001,638 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in Halliburton during the 4th quarter valued at $41,899,000. Institutional investors and hedge funds own 79.17% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on HAL shares. Wells Fargo & Company cut their target price on shares of Halliburton from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. ATB Capital upped their price target on shares of Halliburton to $46.50 in a research note on Friday, July 22nd. Morgan Stanley dropped their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Susquehanna upped their price target on shares of Halliburton from $45.00 to $48.00 in a research note on Wednesday, April 20th. Finally, Citigroup upped 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.53.
Halliburton Stock Down 4.1 %
Halliburton (NYSE:HAL – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. Halliburton had a net margin of 8.19% and a return on equity of 19.91%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Halliburton will post 2.02 EPS for the current year.
Halliburton Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 31st. Halliburton’s payout ratio is presently 30.19%.
Insider Activity at Halliburton
In related news, insider Joe D. Rainey sold 20,000 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $42.73, for a total value of $854,600.00. Following the completion of the sale, the insider now owns 310,014 shares in the company, valued at $13,246,898.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Halliburton news, insider Joe D. Rainey sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $42.73, for a total transaction of $854,600.00. Following the completion of the transaction, the insider now owns 310,014 shares in the company, valued at $13,246,898.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lawrence J. Pope sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $40.95, for a total transaction of $409,500.00. Following the transaction, the executive vice president now owns 273,342 shares of the company’s stock, valued at approximately $11,193,354.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $1,663,600. Company insiders own 0.57% of the company’s stock.
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.
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