Cibc World Market Inc. Has $23.72 Million Holdings in Halliburton Company $HAL

Key Points

• Cibc World Market Inc. increased its Halliburton stake by 250.4% in the fourth quarter, ending with 839,242 shares worth about $23.7 million.
• Halliburton reported better-than-expected quarterly earnings of $0.55 per share versus $0.50 expected, while revenue came in at $5.40 billion, slightly above estimates.
• The company declared a quarterly dividend of $0.17 per share payable June 24, and analysts currently rate the stock a Moderate Buy with a consensus price target of $43.27.

Cibc World Market Inc. raised its position in Halliburton Company (NYSE:HAL - Free Report) by 250.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 839,242 shares of the oilfield services company's stock after buying an additional 599,738 shares during the period. Cibc World Market Inc. owned 0.10% of Halliburton worth $23,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HAL. Capital Research Global Investors boosted its position in Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company's stock valued at $2,239,349,000 after buying an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company's stock valued at $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC acquired a new position in Halliburton in the third quarter valued at about $418,738,000. Norges Bank acquired a new position in Halliburton in the fourth quarter valued at about $169,304,000. Finally, Holocene Advisors LP acquired a new position in Halliburton in the third quarter valued at about $147,315,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL opened at $39.12 on Friday. Halliburton Company has a 12 month low of $20.09 and a 12 month high of $43.59. The firm has a fifty day simple moving average of $39.77 and a 200 day simple moving average of $34.55. The stock has a market capitalization of $32.68 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.78 and a beta of 0.69. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm's revenue was down .3% on a year-over-year basis. Research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.7%. Halliburton's dividend payout ratio is presently 37.36%.

Insider Activity

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the sale, the director directly owned 15,250 shares of the company's stock, valued at approximately $636,230. This represents a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Casey Maxwell sold 20,348 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the sale, the insider directly owned 93,763 shares in the company, valued at $3,927,732.07. This trade represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 416,991 shares of company stock valued at $16,846,948. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $47.00 target price on shares of Halliburton in a research note on Sunday, April 26th. The Goldman Sachs Group boosted their target price on shares of Halliburton from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Susquehanna boosted their target price on shares of Halliburton from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Tuesday, April 7th. Piper Sandler boosted their target price on shares of Halliburton from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 15th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $43.00 target price (up from $36.00) on shares of Halliburton 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 issued a Sell rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.27.

About Halliburton

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.

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