Lansforsakringar Fondforvaltning AB publ Has $6.72 Million Stake in Halliburton Company $HAL

Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Halliburton Company (NYSE:HAL) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 272,995 shares of the oilfield services company’s stock after purchasing an additional 25,620 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Halliburton were worth $6,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Halliburton by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock worth $2,147,310,000 after purchasing an additional 1,617,696 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Halliburton by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 30,287,989 shares of the oilfield services company’s stock worth $617,269,000 after buying an additional 346,218 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Halliburton by 0.4% during the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock worth $453,461,000 after buying an additional 92,549 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Halliburton by 10.1% during the second quarter. Invesco Ltd. now owns 11,903,833 shares of the oilfield services company’s stock worth $242,600,000 after buying an additional 1,089,928 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 10,154,605 shares of the oilfield services company’s stock valued at $249,803,000 after acquiring an additional 1,906,724 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Halliburton

In related news, Director Margaret Katherine Banks sold 2,600 shares of Halliburton stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total transaction of $88,842.00. Following the completion of the sale, the director directly owned 14,043 shares of the company’s stock, valued at $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,243 shares in the company, valued at $38,499,455.28. The trade was a 13.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 337,002 shares of company stock worth $11,445,938. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HAL shares. Rothschild & Co Redburn increased their price target on Halliburton from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Argus lifted their price objective on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Citigroup boosted their price objective on Halliburton from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada lifted their price target on Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Halliburton from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.19.

Halliburton Price Performance

Halliburton stock opened at $35.86 on Wednesday. The business’s 50-day simple moving average is $32.13 and its 200 day simple moving average is $27.26. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The stock has a market cap of $30.03 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 2.10 and a beta of 0.77. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $35.97.

Halliburton (NYSE:HAL) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. As a group, research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s payout ratio is currently 45.03%.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.