DnB Asset Management AS Grows Position in Halliburton (NYSE:HAL)

DnB Asset Management AS lifted its holdings in shares of Halliburton (NYSE:HALGet Rating) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,480 shares of the oilfield services company’s stock after purchasing an additional 2,862 shares during the quarter. DnB Asset Management AS’s holdings in Halliburton were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HAL. Norges Bank purchased a new position in shares of Halliburton during the 4th quarter worth $487,897,000. Capital Research Global Investors purchased a new position in Halliburton during the 1st quarter valued at about $677,566,000. BlackRock Inc. boosted its holdings in Halliburton by 8.1% during the 1st quarter. BlackRock Inc. now owns 72,922,850 shares of the oilfield services company’s stock valued at $2,761,589,000 after acquiring an additional 5,460,366 shares during the period. Van ECK Associates Corp boosted its holdings in Halliburton by 35.0% during the 1st quarter. Van ECK Associates Corp now owns 14,448,376 shares of the oilfield services company’s stock valued at $547,160,000 after acquiring an additional 3,747,392 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Halliburton by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,291,720 shares of the oilfield services company’s stock valued at $389,745,000 after acquiring an additional 2,927,975 shares during the period. 80.60% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Trading Up 0.6 %

Shares of HAL stock opened at $28.37 on Tuesday. The business’s 50 day moving average is $29.12 and its two-hundred day moving average is $34.03. Halliburton has a twelve month low of $19.12 and a twelve month high of $43.99. The company has a market capitalization of $25.73 billion, a P/E ratio of 17.84 and a beta of 2.11. The company has a current ratio of 2.15, a quick ratio of 1.60 and a debt-to-equity ratio of 1.19.

Halliburton (NYSE:HALGet Rating) last announced its earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. Halliburton had a return on equity of 19.91% and a net margin of 8.19%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period last year, the business posted $0.26 EPS. The company’s revenue was up 36.9% on a year-over-year basis. Equities analysts forecast that Halliburton will post 2.01 EPS for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.69%. Halliburton’s dividend payout ratio (DPR) is presently 30.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HAL shares. Barclays raised their target price on Halliburton from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, June 8th. Stephens cut their target price on Halliburton to $32.00 in a research report on Friday, July 22nd. Wells Fargo & Company cut their target price on Halliburton from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. The Goldman Sachs Group cut their target price on Halliburton from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Morgan Stanley cut their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.53.

About Halliburton

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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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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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