Mirae Asset Global Investments Co. Ltd. Makes New $6.75 Million Investment in Halliburton Company $HAL

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Halliburton Company (NYSE:HAL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 212,241 shares of the oilfield services company’s stock, valued at approximately $6,749,000.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Halliburton by 10.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock worth $109,000 after purchasing an additional 258 shares during the period. Carlson Financial Inc. increased its position in shares of Halliburton by 2.7% during the second quarter. Carlson Financial Inc. now owns 11,278 shares of the oilfield services company’s stock valued at $383,000 after buying an additional 295 shares during the period. Greenleaf Trust increased its position in shares of Halliburton by 2.0% during the second quarter. Greenleaf Trust now owns 17,348 shares of the oilfield services company’s stock valued at $589,000 after buying an additional 342 shares during the period. BIP Wealth LLC increased its position in shares of Halliburton by 4.6% during the third quarter. BIP Wealth LLC now owns 8,696 shares of the oilfield services company’s stock valued at $277,000 after buying an additional 379 shares during the period. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Halliburton by 3.4% in the second quarter. Angeles Wealth Management LLC now owns 13,414 shares of the oilfield services company’s stock worth $455,000 after buying an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Halliburton stock opened at $31.89 on Friday. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.91 and a beta of 0.76. The company has a quick ratio of 1.48, a current ratio of 2.02 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $34.17 and a 200 day simple moving average of $35.76. Halliburton Company has a 52 week low of $24.92 and a 52 week high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Halliburton had a return on equity of 18.36% and a net margin of 8.90%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Halliburton Company will post 2.33 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s payout ratio is presently 28.45%.

Insider Activity at Halliburton

In related news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Halliburton from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. BMO Capital Markets set a $37.00 target price on shares of Halliburton in a report on Wednesday, July 22nd. Argus decreased their target price on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Piper Sandler lowered their target price on shares of Halliburton from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Finally, Morgan Stanley cut their price target on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Halliburton Company Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.