BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Halliburton (NYSE:HAL) by 28.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,126 shares of the oilfield services company’s stock after selling 79,592 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Halliburton were worth $8,030,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in HAL. Franklin Resources Inc. raised its holdings in shares of Halliburton by 644.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,927,010 shares of the oilfield services company’s stock valued at $604,991,000 after acquiring an additional 12,922,480 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of Halliburton by 24.8% in the 3rd quarter. Sanders Capital LLC now owns 19,776,422 shares of the oilfield services company’s stock valued at $883,006,000 after acquiring an additional 3,932,014 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Halliburton by 59.1% in the 3rd quarter. American Century Companies Inc. now owns 6,982,458 shares of the oilfield services company’s stock valued at $282,999,000 after acquiring an additional 2,593,541 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Halliburton in the 3rd quarter valued at about $73,310,000. Finally, Natixis raised its holdings in shares of Halliburton by 79.6% in the 2nd quarter. Natixis now owns 3,771,221 shares of the oilfield services company’s stock valued at $169,931,000 after acquiring an additional 1,671,817 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Halliburton stock opened at $29.68 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.73 and a current ratio of 2.31. The stock has a market cap of $27.54 billion, a PE ratio of 24.33, a PEG ratio of 0.92 and a beta of 1.06. Halliburton has a 12 month low of $29.24 and a 12 month high of $57.86.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. Halliburton had a return on equity of 20.42% and a net margin of 0.70%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Research analysts forecast that Halliburton will post 1.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. Halliburton’s dividend payout ratio (DPR) is presently 59.02%.
In related news, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total transaction of $648,034.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Anne L. Beaty sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $32.33, for a total value of $232,776.00. Following the transaction, the vice president now owns 62,196 shares in the company, valued at $2,010,796.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,399 shares of company stock worth $924,648. 0.54% of the stock is owned by corporate insiders.
Several analysts have weighed in on the company. Citigroup set a $45.00 price target on Halliburton and gave the company a “buy” rating in a report on Friday, November 30th. Societe Generale set a $42.00 price target on Halliburton and gave the company a “hold” rating in a report on Monday, October 22nd. ValuEngine raised Halliburton from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Bank of America reaffirmed a “buy” rating and issued a $48.00 price target (down previously from $52.00) on shares of Halliburton in a report on Monday, December 3rd. Finally, UBS Group set a $50.00 price target on Halliburton and gave the company a “buy” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $51.24.
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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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