HB Wealth Management LLC lifted its position in Halliburton (NYSE:HAL – Get Rating) by 19.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,796 shares of the oilfield services company’s stock after purchasing an additional 1,262 shares during the quarter. HB Wealth Management LLC’s holdings in Halliburton were worth $247,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Halliburton in the fourth quarter valued at about $457,245,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Halliburton by 123.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 15,936,342 shares of the oilfield services company’s stock valued at $627,088,000 after buying an additional 8,791,319 shares during the last quarter. Morgan Stanley lifted its position in Halliburton by 65.5% in the fourth quarter. Morgan Stanley now owns 17,217,776 shares of the oilfield services company’s stock valued at $677,520,000 after buying an additional 6,815,373 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Halliburton by 30.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,428,444 shares of the oilfield services company’s stock valued at $449,709,000 after buying an additional 2,682,418 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Halliburton in the fourth quarter valued at about $99,039,000. Hedge funds and other institutional investors own 84.79% of the company’s stock.
Halliburton Stock Performance
Shares of Halliburton stock opened at $32.42 on Wednesday. The firm has a market capitalization of $29.25 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.39 and a beta of 2.13. Halliburton has a 52 week low of $23.30 and a 52 week high of $43.42. The company has a quick ratio of 1.54, a current ratio of 2.14 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $31.09 and its two-hundred day moving average is $34.75.
Halliburton Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.97%. Halliburton’s dividend payout ratio (DPR) is presently 29.63%.
Insider Transactions at Halliburton
In other news, CEO Jeffrey Allen Miller sold 271,283 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $30.25, for a total transaction of $8,206,310.75. Following the transaction, the chief executive officer now directly owns 829,230 shares in the company, valued at $25,084,207.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey Allen Miller sold 271,283 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.25, for a total transaction of $8,206,310.75. Following the completion of the sale, the chief executive officer now directly owns 829,230 shares of the company’s stock, valued at $25,084,207.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Charles Jr. Geer sold 12,065 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.60, for a total value of $369,189.00. Following the sale, the chief accounting officer now directly owns 52,817 shares of the company’s stock, valued at $1,616,200.20. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on HAL. Benchmark reaffirmed a “buy” rating and issued a $50.00 target price on shares of Halliburton in a research report on Monday, April 3rd. Capital One Financial started coverage on shares of Halliburton in a research report on Wednesday, June 7th. They set an “overweight” rating and a $41.00 price target on the stock. UBS Group started coverage on shares of Halliburton in a research report on Wednesday, April 19th. They set a “buy” rating and a $49.00 price target on the stock. Susquehanna reduced their price target on shares of Halliburton from $57.00 to $45.00 in a research report on Monday, April 3rd. Finally, Citigroup reduced their price target 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. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $47.83.
Halliburton Profile
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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