TIAA CREF Investment Management LLC raised its holdings in shares of Halliburton (NYSE:HAL) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,221,174 shares of the oilfield services company’s stock after purchasing an additional 391,431 shares during the period. TIAA CREF Investment Management LLC owned 0.37% of Halliburton worth $157,419,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Calton & Associates Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at $128,000. Cerebellum GP LLC acquired a new position in shares of Halliburton in the 4th quarter valued at $131,000. Icon Wealth Partners LLC acquired a new position in shares of Halliburton in the 4th quarter valued at $147,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Halliburton in the 3rd quarter valued at $184,000. Finally, Nicolet Bankshares Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at $193,000. 80.26% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on HAL shares. Jefferies Group set a $62.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Cowen set a $54.00 price target on shares of Halliburton and gave the company a “hold” rating in a report on Thursday, March 15th. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. Finally, Bank of America lowered shares of Halliburton from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Halliburton has a consensus rating of “Buy” and an average target price of $58.70.
Halliburton stock traded down $0.68 during midday trading on Friday, reaching $47.00. The company had a trading volume of 9,877,904 shares, compared to its average volume of 8,161,040. The firm has a market capitalization of $41,715.70, a PE ratio of 38.52, a P/E/G ratio of 2.36 and a beta of 1.06. Halliburton has a 12-month low of $38.18 and a 12-month high of $57.86. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 1.25.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.63 billion. Halliburton had a negative net margin of 2.25% and a positive return on equity of 11.95%. Halliburton’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. sell-side analysts predict that Halliburton will post 2.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 6th. Halliburton’s dividend payout ratio is presently 59.02%.
In other Halliburton news, EVP Eric Carre sold 28,024 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $51.71, for a total value of $1,449,121.04. Following the completion of the sale, the executive vice president now owns 173,767 shares in the company, valued at approximately $8,985,491.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Anne L. Beaty sold 2,937 shares of the stock in a transaction dated Monday, January 8th. The shares were 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 owns 60,839 shares of the company’s stock, valued at approximately $3,137,467.23. The disclosure for this sale can be found here. Insiders sold a total of 103,856 shares of company stock worth $5,609,578 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.
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Halliburton Company Profile
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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