Procyon Advisors LLC Makes New Investment in Halliburton (NYSE:HAL)

Procyon Advisors LLC bought a new position in Halliburton (NYSE:HALFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,685 shares of the oilfield services company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAL. First Capital Advisors Group LLC. purchased a new stake in Halliburton in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in Halliburton in the 1st quarter worth approximately $34,000. KB Financial Partners LLC purchased a new stake in Halliburton in the 1st quarter worth approximately $35,000. Ancora Advisors LLC lifted its position in Halliburton by 443.8% in the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after buying an additional 719 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in Halliburton in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE:HAL opened at $39.42 on Friday. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The firm’s fifty day simple moving average is $36.18 and its 200 day simple moving average is $37.56. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $35.09 billion, a PE ratio of 13.45, a PEG ratio of 0.99 and a beta of 1.99.

Halliburton (NYSE:HALGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.78 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts anticipate that Halliburton will post 3.43 EPS for the current year.

Halliburton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.73%. This is a positive change from Halliburton’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, March 5th. Halliburton’s dividend payout ratio (DPR) is currently 23.21%.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on HAL. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Atb Cap Markets downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating in a report on Friday, December 22nd. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Friday. Susquehanna restated a “positive” rating and set a $49.00 price target on shares of Halliburton in a report on Tuesday, February 13th. Finally, UBS Group raised their price target on shares of Halliburton from $44.00 to $48.00 in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $48.63.

Get Our Latest Research Report on Halliburton

Halliburton Company Profile

(Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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