Covington Capital Management raised its position in Halliburton (NYSE:HAL) by 41.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,564 shares of the oilfield services company’s stock after purchasing an additional 10,650 shares during the period. Covington Capital Management’s holdings in Halliburton were worth $1,787,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in HAL. Calton & Associates Inc. bought a new stake in shares of Halliburton during the 4th quarter valued at about $128,000. Cerebellum GP LLC bought a new stake in Halliburton during the fourth quarter worth about $131,000. Icon Wealth Partners LLC bought a new position in shares of Halliburton in the fourth quarter worth approximately $147,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Halliburton in the third quarter worth approximately $184,000. Finally, Nicolet Bankshares Inc. bought a new position in shares of Halliburton in the fourth quarter worth approximately $193,000. 80.26% of the stock is owned by hedge funds and other institutional investors.
NYSE HAL traded down $0.68 on Friday, hitting $47.00. The company had a trading volume of 9,877,754 shares, compared to its average volume of 9,594,032. The firm has a market cap of $40,928.28, a PE ratio of 38.52, a PEG ratio of 2.30 and a beta of 1.06. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.72 and a current ratio of 2.22. Halliburton has a 12-month low of $38.18 and a 12-month high of $57.86.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Halliburton had a negative net margin of 2.25% and a positive return on equity of 11.95%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. equities analysts predict that Halliburton will post 2.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. Halliburton’s payout ratio is 59.02%.
In other Halliburton news, Director Jeffrey Allen Miller sold 29,025 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $55.00, for a total transaction of $1,596,375.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robb L. Voyles sold 39,287 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $55.00, for a total transaction of $2,160,785.00. The disclosure for this sale can be found here. Insiders sold 103,856 shares of company stock worth $5,609,578 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on the stock. Royal Bank of Canada set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, December 21st. Piper Jaffray set a $52.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, December 14th. Jefferies Group set a $57.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Halliburton from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, December 26th. Finally, Loop Capital restated a “buy” rating and set a $69.00 target price (up previously from $57.00) on shares of Halliburton in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the company. Halliburton currently has a consensus rating of “Buy” and a consensus target price of $58.70.
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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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