Norges Bank Makes New Investment in Halliburton (NYSE:HAL)

Norges Bank purchased a new position in shares of Halliburton (NYSE:HALFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,066,954 shares of the oilfield services company’s stock, valued at approximately $400,070,000. Norges Bank owned about 1.24% of Halliburton as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ancora Advisors LLC lifted its position in shares of Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after buying an additional 719 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Halliburton in the 4th quarter worth approximately $36,000. First United Bank & Trust bought a new stake in Halliburton during the 4th quarter valued at $36,000. Criterion Capital Advisors LLC purchased a new stake in shares of Halliburton during the fourth quarter worth $37,000. Finally, Stone House Investment Management LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $38,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley increased their price objective on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Jefferies Financial Group upped their target price on shares of Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Raymond James cut their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $48.59.

Get Our Latest Report on HAL

Insider Transactions at Halliburton

In related news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the transaction, the senior vice president now owns 40,185 shares in the company, valued at $1,486,845. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the sale, the senior vice president now owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 434,287 shares of company stock worth $15,415,304. 0.61% of the stock is currently owned by insiders.

Halliburton Stock Up 0.2 %

Shares of Halliburton stock opened at $37.96 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12. Halliburton has a 52-week low of $28.43 and a 52-week high of $43.85. The company’s 50 day moving average price is $38.50 and its 200-day moving average price is $36.90. The stock has a market capitalization of $33.61 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.96 and a beta of 2.01.

Halliburton (NYSE:HALGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. Equities research analysts forecast that Halliburton will post 3.39 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, June 5th. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Halliburton 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.

Further Reading

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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