Lazard Asset Management LLC increased its stake in shares of Halliburton (NYSE:HAL – Get Rating) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,115 shares of the oilfield services company’s stock after purchasing an additional 342 shares during the quarter. Lazard Asset Management LLC’s holdings in Halliburton were worth $371,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in HAL. Sei Investments Co. boosted its holdings in shares of Halliburton by 259.5% during the first quarter. Sei Investments Co. now owns 166,407 shares of the oilfield services company’s stock worth $6,281,000 after purchasing an additional 120,122 shares during the period. Canada Pension Plan Investment Board lifted its stake in Halliburton by 70.5% in the first quarter. Canada Pension Plan Investment Board now owns 128,001 shares of the oilfield services company’s stock valued at $4,847,000 after acquiring an additional 52,933 shares during the last quarter. Prudential PLC acquired a new stake in Halliburton in the first quarter valued at approximately $696,000. Parkside Financial Bank & Trust lifted its stake in Halliburton by 81.5% in the first quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company’s stock valued at $89,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Halliburton by 83.7% in the first quarter. Covestor Ltd now owns 3,384 shares of the oilfield services company’s stock valued at $128,000 after acquiring an additional 1,542 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on HAL shares. Susquehanna lifted their target price on shares of Halliburton from $51.00 to $57.00 and gave the company a “positive” rating in a research note on Wednesday, January 25th. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research note on Wednesday, January 25th. Wells Fargo & Company lifted their price target on shares of Halliburton from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. Benchmark started coverage on shares of Halliburton in a research report on Thursday, January 19th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Raymond James started coverage on shares of Halliburton in a research report on Friday, December 9th. They issued a “strong-buy” rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $48.67.
Halliburton Trading Up 1.3 %
Halliburton (NYSE:HAL – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.59 billion. Halliburton had a net margin of 7.74% and a return on equity of 26.25%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, sell-side analysts predict that Halliburton will post 3.08 EPS for the current year.
Halliburton Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, February 28th. This is a positive change from Halliburton’s previous quarterly dividend of $0.12. Halliburton’s payout ratio is 36.99%.
Insider Buying and Selling at Halliburton
In other Halliburton news, CFO Eric Carre sold 6,513 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $37.50, for a total value of $244,237.50. Following the sale, the chief financial officer now owns 119,691 shares of the company’s stock, valued at approximately $4,488,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Eric Carre sold 6,513 shares of the company’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $37.50, for a total value of $244,237.50. Following the sale, the chief financial officer now owns 119,691 shares of the company’s stock, valued at approximately $4,488,412.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 11,044 shares of Halliburton stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $39.50, for a total transaction of $436,238.00. Following the transaction, the executive vice president now directly owns 249,291 shares of the company’s stock, valued at $9,846,994.50. The disclosure for this sale can be found here. Insiders have sold 55,922 shares of company stock valued at $2,200,185 in the last 90 days. 0.57% of the stock is currently owned by company insiders.
Halliburton Company Profile
Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.
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