OP Asset Management Ltd acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 87,630 shares of the oilfield services company's stock, valued at approximately $3,417,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAL. Assenagon Asset Management S.A. increased its stake in shares of Halliburton by 1,375.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,324,233 shares of the oilfield services company's stock valued at $90,622,000 after acquiring an additional 2,166,703 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Halliburton by 8.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 42,426 shares of the oilfield services company's stock worth $1,654,000 after acquiring an additional 3,246 shares during the last quarter. Kercheville Advisors LLC bought a new position in Halliburton during the 1st quarter worth approximately $665,000. Cidel Asset Management Inc. grew its holdings in Halliburton by 75.5% during the first quarter. Cidel Asset Management Inc. now owns 20,305 shares of the oilfield services company's stock valued at $792,000 after purchasing an additional 8,734 shares during the period. Finally, Stonebridge Financial Group LLC MO bought a new stake in Halliburton in the first quarter valued at approximately $203,000. Institutional investors own 85.23% of the company's stock.
Wall Street Analyst Weigh In
HAL has been the topic of several analyst reports. Royal Bank Of Canada increased their target price on shares of Halliburton from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Capital One Financial raised their price objective on Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Griffin Securities upgraded Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Wednesday, April 22nd. Finally, Zephirin Group boosted their target price on Halliburton from $30.00 to $31.00 and gave the company a "sell" rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.27.
Read Our Latest Stock Report on HAL
Halliburton Stock Performance
Shares of Halliburton stock opened at $34.09 on Friday. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.69. The stock's 50-day moving average is $39.34 and its 200-day moving average is $35.64. Halliburton Company has a one year low of $20.09 and a one year high of $43.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.
Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. Halliburton's revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts predict that Halliburton Company will post 2.34 earnings per share for the current fiscal year.
Halliburton Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton's dividend payout ratio is 37.36%.
Insider Activity at Halliburton
In other news, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the sale, the vice president directly owned 72,976 shares in the company, valued at $3,064,992. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president owned 146,186 shares of the company's stock, valued at $6,036,019.94. The trade was a 57.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by corporate insiders.
About Halliburton
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Free Report)
Halliburton is one of the world's largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.
The company's activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.
See Also
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