Adams Natural Resources Fund Inc. lessened its stake in Halliburton Company (NYSE:HAL - Free Report) by 23.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,589 shares of the oilfield services company's stock after selling 40,764 shares during the quarter. Adams Natural Resources Fund Inc.'s holdings in Halliburton were worth $3,465,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Halliburton in the 4th quarter valued at about $299,986,000. Amundi increased its position in shares of Halliburton by 22.2% during the fourth quarter. Amundi now owns 13,068,025 shares of the oilfield services company's stock valued at $353,242,000 after acquiring an additional 2,378,043 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Halliburton by 15.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after acquiring an additional 2,171,722 shares during the period. Twinbeech Capital LP boosted its position in Halliburton by 314.1% in the fourth quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock worth $55,594,000 after purchasing an additional 1,550,920 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in Halliburton in the 4th quarter valued at $41,484,000. Hedge funds and other institutional investors own 85.23% of the company's stock.
Halliburton Price Performance
HAL stock traded down $0.48 during midday trading on Wednesday, reaching $20.30. The company had a trading volume of 14,332,575 shares, compared to its average volume of 11,269,037. The firm has a 50-day moving average price of $20.89 and a 200-day moving average price of $24.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.98 and a quick ratio of 1.46. The company has a market capitalization of $17.45 billion, a P/E ratio of 8.49, a P/E/G ratio of 3.24 and a beta of 1.14. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $37.08.
Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, meeting analysts' consensus estimates of $0.60. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.28 billion. On average, research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.
Halliburton Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. Halliburton's payout ratio is 28.45%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on HAL shares. Stifel Nicolaus decreased their target price on Halliburton from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Hsbc Global Res upgraded shares of Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. UBS Group reduced their target price on shares of Halliburton from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and an average target price of $33.58.
Check Out Our Latest Research Report on Halliburton
About Halliburton
(
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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