State of Alaska Department of Revenue boosted its stake in shares of Halliburton (NYSE:HAL – Get Rating) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,652 shares of the oilfield services company’s stock after acquiring an additional 3,270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Halliburton were worth $4,065,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in HAL. Rather & Kittrell Inc. bought a new stake in Halliburton during the fourth quarter worth approximately $25,000. Hanseatic Management Services Inc. bought a new stake in Halliburton during the first quarter worth approximately $25,000. Riverview Trust Co bought a new stake in Halliburton during the first quarter worth approximately $27,000. First PREMIER Bank bought a new stake in Halliburton during the first quarter worth approximately $27,000. Finally, City State Bank bought a new position in shares of Halliburton during the fourth quarter valued at approximately $36,000. 80.60% of the stock is owned by institutional investors.
Halliburton Stock Down 2.0 %
Halliburton stock opened at $27.08 on Thursday. The business has a fifty day moving average of $29.06 and a two-hundred day moving average of $33.90. The company has a quick ratio of 1.60, a current ratio of 2.15 and a debt-to-equity ratio of 1.19. The firm has a market cap of $24.56 billion, a P/E ratio of 17.03 and a beta of 2.11. Halliburton has a twelve month low of $19.73 and a twelve month high of $43.99.
Halliburton Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. Halliburton’s dividend payout ratio is currently 30.19%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on HAL. 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 note on Wednesday, July 13th. Barclays upped their target price on Halliburton from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. ATB Capital upped their target price on Halliburton to $46.50 in a research note on Friday, July 22nd. 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 note on Wednesday, July 13th. Finally, 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 note on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.53.
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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