BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Halliburton (NYSE:HAL) by 42.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 498,021 shares of the oilfield services company’s stock after acquiring an additional 148,155 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Halliburton worth $24,338,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in HAL. Calton & Associates Inc. acquired a new position in Halliburton during the fourth quarter worth about $128,000. Cerebellum GP LLC acquired a new position in Halliburton during the fourth quarter worth about $131,000. Icon Wealth Partners LLC acquired a new position in Halliburton during the fourth quarter worth about $147,000. Fuller & Thaler Asset Management Inc. purchased a new position in Halliburton in the 3rd quarter worth about $184,000. Finally, Nicolet Bankshares Inc. purchased a new position in Halliburton in the 4th quarter worth about $193,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on HAL. BMO Capital Markets set a $63.00 price target on Halliburton and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Loop Capital reissued a “buy” rating and issued a $69.00 price target (up previously from $57.00) on shares of Halliburton in a research note on Tuesday, January 23rd. Jefferies Group set a $57.00 price target on Halliburton and gave the stock a “buy” rating in a research note on Thursday, January 4th. Zacks Investment Research cut Halliburton from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Sanford C. Bernstein set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. Halliburton presently has an average rating of “Buy” and an average price target of $58.83.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.63 billion. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. sell-side analysts anticipate that Halliburton will post 2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, March 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. Halliburton’s dividend payout ratio is -135.85%.
In other news, VP Anne L. Beaty sold 2,937 shares of Halliburton stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $51.57, for a total transaction of $151,461.09. Following the completion of the sale, the vice president now directly owns 60,839 shares in the company, valued at approximately $3,137,467.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Anne L. Beaty sold 1,245 shares of Halliburton stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $51.50, for a total value of $64,117.50. Following the sale, the vice president now owns 60,839 shares of the company’s stock, valued at $3,133,208.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,922 shares of company stock valued at $6,706,509. 0.46% of the stock is owned by corporate insiders.
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Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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