PFG Advisors purchased a new position in Halliburton (NYSE:HAL – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,632 shares of the oilfield services company’s stock, valued at approximately $340,000.
Other hedge funds have also added to or reduced their stakes in the company. EWG Elevate Inc. purchased a new position in shares of Halliburton in the fourth quarter valued at about $25,000. Worth Asset Management LLC purchased a new position in shares of Halliburton during the fourth quarter valued at about $27,000. Coston McIsaac & Partners purchased a new position in shares of Halliburton during the second quarter valued at about $28,000. Bogart Wealth LLC increased its position in shares of Halliburton by 100.0% during the third quarter. Bogart Wealth LLC now owns 1,150 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 575 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in shares of Halliburton by 74.1% during the third quarter. Hanseatic Management Services Inc. now owns 1,266 shares of the oilfield services company’s stock valued at $31,000 after buying an additional 539 shares during the period. 80.56% of the stock is owned by institutional investors.
Insider Transactions at Halliburton
In other news, Director Margaret Katherine Banks sold 2,769 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $38.79, for a total transaction of $107,409.51. Following the completion of the sale, the director now owns 11,856 shares of the company’s stock, valued at $459,894.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Margaret Katherine Banks sold 2,769 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $38.79, for a total transaction of $107,409.51. Following the transaction, the director now owns 11,856 shares of the company’s stock, valued at approximately $459,894.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Van H. Beckwith sold 4,493 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $40.41, for a total transaction of $181,562.13. Following the transaction, the executive vice president now directly owns 191,334 shares in the company, valued at approximately $7,731,806.94. The disclosure for this sale can be found here. Insiders sold 11,557 shares of company stock valued at $471,939 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.
Halliburton Price Performance
Halliburton (NYSE:HAL – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.67 by $0.05. The company had revenue of $5.58 billion during 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 firm’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, research analysts predict that Halliburton will post 3.09 EPS for the current fiscal year.
Halliburton Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.16 per share. This is a positive change from Halliburton’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.91%. Halliburton’s dividend payout ratio is presently 36.99%.
Analysts Set New Price Targets
Several research firms recently commented on HAL. Royal Bank of Canada boosted their price objective on shares of Halliburton from $45.00 to $48.00 in a research note on Wednesday, January 25th. Barclays upped their target price on shares of Halliburton from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. Wells Fargo & Company increased their price objective 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. Citigroup lowered their price objective on shares of Halliburton from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, March 22nd. Finally, Susquehanna lowered their price objective on shares of Halliburton from $57.00 to $45.00 in a research report on Monday, April 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.12.
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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