BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in shares of Halliburton (NYSE:HAL – Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,167 shares of the oilfield services company’s stock after selling 28,063 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Halliburton were worth $13,630,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP bought a new stake in Halliburton during the 1st quarter worth approximately $34,000. Beacon Capital Management LLC grew its position in shares of Halliburton by 1,675.0% during the 2nd quarter. Beacon Capital Management LLC now owns 1,065 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 1,005 shares in the last quarter. KB Financial Partners LLC purchased a new stake in shares of Halliburton in the first quarter worth $35,000. Sandy Spring Bank boosted its stake in Halliburton by 552.5% during the first quarter. Sandy Spring Bank now owns 1,305 shares of the oilfield services company’s stock valued at $41,000 after buying an additional 1,105 shares during the period. Finally, Live Oak Investment Partners purchased a new position in Halliburton during the fourth quarter worth about $43,000. 82.09% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HAL has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Halliburton from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 target price on shares of Halliburton in a research report on Tuesday, August 1st. Jefferies Financial Group lifted their price target on Halliburton from $49.00 to $51.00 in a research note on Monday, October 2nd. Citigroup increased their price objective on Halliburton from $42.00 to $46.00 in a research report on Wednesday, October 4th. Finally, Barclays boosted their target price on Halliburton from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $49.00.
Insiders Place Their Bets
In other Halliburton news, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $42.94, for a total value of $214,700.00. Following the completion of the transaction, the executive vice president now directly owns 176,334 shares in the company, valued at $7,571,781.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $42.94, for a total transaction of $214,700.00. Following the transaction, the executive vice president now directly owns 176,334 shares in the company, valued at approximately $7,571,781.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jill D. Sharp sold 15,333 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $42.00, for a total transaction of $643,986.00. Following the transaction, the senior vice president now owns 45,078 shares in the company, valued at approximately $1,893,276. The disclosure for this sale can be found here. Insiders sold a total of 60,236 shares of company stock worth $2,573,715 over the last 90 days. Company insiders own 0.60% of the company’s stock.
Halliburton Stock Performance
Shares of NYSE:HAL opened at $38.30 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.85. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The company has a market capitalization of $34.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.58 and a beta of 2.12. The firm’s 50-day moving average is $40.71 and its 200 day moving average is $36.58.
Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The oilfield services company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.85 billion. Halliburton had a net margin of 11.52% and a return on equity of 31.61%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Research analysts predict that Halliburton will post 3.07 EPS for the current year.
Halliburton Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, September 5th. Halliburton’s dividend payout ratio (DPR) is 21.99%.
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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