Credit Suisse AG reduced its stake in shares of Halliburton (NYSE:HAL – Free Report) by 29.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282,848 shares of the oilfield services company’s stock after selling 533,871 shares during the quarter. Credit Suisse AG owned 0.14% of Halliburton worth $40,589,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Ossiam raised its stake in Halliburton by 1,434.1% during the fourth quarter. Ossiam now owns 629 shares of the oilfield services company’s stock worth $25,000 after acquiring an additional 588 shares in the last quarter. Sandy Spring Bank raised its stake in Halliburton by 552.5% during the first quarter. Sandy Spring Bank now owns 1,305 shares of the oilfield services company’s stock worth $41,000 after acquiring an additional 1,105 shares in the last quarter. Live Oak Investment Partners acquired a new position in Halliburton during the fourth quarter worth $43,000. Park Place Capital Corp raised its stake in Halliburton by 104.3% during the first quarter. Park Place Capital Corp now owns 1,412 shares of the oilfield services company’s stock worth $45,000 after acquiring an additional 721 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Halliburton during the first quarter worth $45,000. 84.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
HAL has been the subject of a number of research reports. Susquehanna raised their target price on Halliburton from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, July 20th. Stifel Nicolaus lowered their target price on Halliburton from $49.00 to $48.00 in a research note on Wednesday, July 12th. Barclays lowered their target price on Halliburton from $58.00 to $49.00 in a research note on Thursday, July 20th. StockNews.com initiated coverage on Halliburton in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, UBS Group raised their target price on Halliburton from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Halliburton presently has an average rating of “Buy” and an average price target of $47.79.
Halliburton Price Performance
Shares of HAL opened at $38.99 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.91. Halliburton has a 1 year low of $23.30 and a 1 year high of $43.42. The stock has a market cap of $35.03 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.65 and a beta of 2.17. The stock’s 50-day moving average price is $36.34 and its two-hundred day moving average price is $34.25.
Halliburton (NYSE:HAL – Get Free Report) last issued its earnings results on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Halliburton had a return on equity of 31.01% and a net margin of 10.98%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts predict that Halliburton will post 3.04 earnings per share for the current year.
Halliburton Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.64%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.
Insider Activity
In other news, VP Timothy Mckeon sold 3,952 shares of Halliburton stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $158,080.00. Following the transaction, the vice president now owns 53,803 shares in the company, valued at approximately $2,152,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Timothy Mckeon sold 3,952 shares of Halliburton stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $158,080.00. Following the transaction, the vice president now owns 53,803 shares in the company, valued at approximately $2,152,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jill D. Sharp sold 3,684 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.00, for a total value of $147,360.00. Following the completion of the sale, the senior vice president now owns 48,762 shares in the company, valued at approximately $1,950,480. The disclosure for this sale can be found here. Insiders have sold 187,266 shares of company stock worth $7,133,323 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.
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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