Halliburton Company $HAL Stock Holdings Raised by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Halliburton stake by 21.2% in the fourth quarter, ending with 2.27 million shares valued at about $64.3 million. Other institutions also added or initiated positions, and institutional ownership now stands at 85.23%.
• Halliburton reported better-than-expected quarterly results, posting EPS of $0.55 versus estimates of $0.50 on revenue of $5.40 billion. Revenue was slightly below last year’s level, but analysts still project full-year EPS of 2.34.
• The company declared a quarterly dividend of $0.17 per share, payable June 24, which annualizes to $0.68 per share for a 1.9% yield. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $43.27.

Hsbc Holdings PLC grew its stake in Halliburton Company (NYSE:HAL - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,274,017 shares of the oilfield services company's stock after purchasing an additional 397,282 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of Halliburton worth $64,306,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Groupama Asset Managment increased its holdings in Halliburton by 19.9% in the fourth quarter. Groupama Asset Managment now owns 1,941,931 shares of the oilfield services company's stock valued at $54,879,000 after buying an additional 322,066 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Halliburton during the fourth quarter valued at approximately $219,000. MV Capital Management Inc. acquired a new stake in Halliburton during the fourth quarter valued at approximately $33,000. Vinland Capital Management Gestora de Recursos LTDA. bought a new position in Halliburton during the 4th quarter worth approximately $167,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Halliburton during the 4th quarter worth approximately $71,000. Institutional investors own 85.23% of the company's stock.

Halliburton Stock Up 0.5%

Shares of Halliburton stock opened at $35.11 on Tuesday. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.51 and a beta of 0.70. Halliburton Company has a twelve month low of $20.09 and a twelve month high of $43.59. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The business's 50 day simple moving average is $39.61 and its 200-day simple moving average is $35.51.

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

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton's payout ratio is 37.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Griffin Securities upgraded Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 price target for the company in a report on Wednesday, April 22nd. Argus raised their price objective on Halliburton from $39.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group lifted their price objective on shares of Halliburton from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Halliburton in a research note on Friday, April 10th. Finally, 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. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.27.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the transaction, the insider directly owned 93,763 shares of the company's stock, valued at $3,927,732.07. The trade was 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 quarter, insiders have sold 416,710 shares of company stock valued at $16,888,735. Company insiders own 0.57% of the company's stock.

Halliburton Profile

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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