Steinberg Global Asset Management acquired a new stake in shares of Halliburton (NYSE:HAL) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 29,753 shares of the oilfield services company’s stock, valued at approximately $1,397,000.
A number of other institutional investors have also recently made changes to their positions in HAL. SevenBridge Financial Group LLC lifted its position in Halliburton by 387.5% during the fourth quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock valued at $26,000 after buying an additional 775 shares during the period. Essex Savings Bank purchased a new position in shares of Halliburton in the 4th quarter worth about $27,000. Paragon Capital Management LLC purchased a new position in shares of Halliburton in the 1st quarter worth about $29,000. CX Institutional purchased a new position in shares of Halliburton in the 4th quarter worth about $30,000. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Halliburton in the 4th quarter worth about $38,000. 80.94% of the stock is owned by institutional investors and hedge funds.
HAL has been the subject of several recent analyst reports. Royal Bank of Canada set a $48.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Citigroup set a $39.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. UBS Group set a $40.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Morgan Stanley set a $36.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Finally, Raymond James set a $45.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. Halliburton has a consensus rating of “Buy” and a consensus target price of $45.38.
NYSE:HAL traded down $0.04 during mid-day trading on Monday, reaching $31.29. The company’s stock had a trading volume of 6,663,145 shares, compared to its average volume of 9,593,290. Halliburton has a 12-month low of $24.70 and a 12-month high of $54.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.69 and a current ratio of 2.32. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17.
Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. Halliburton had a return on equity of 18.57% and a net margin of 6.90%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.87 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. Halliburton’s revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Halliburton will post 1.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.30%. Halliburton’s dividend payout ratio is currently 37.89%.
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Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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