Norges Bank Acquires New Holdings in Halliburton (NYSE:HAL)

Norges Bank acquired a new stake in Halliburton (NYSE:HAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,175,557 shares of the oilfield services company’s stock, valued at approximately $230,118,000.

Other large investors have also recently modified their holdings of the company. Ballentine Partners LLC raised its position in shares of Halliburton by 4.9% during the 4th quarter. Ballentine Partners LLC now owns 14,228 shares of the oilfield services company’s stock worth $269,000 after buying an additional 670 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Halliburton by 0.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 145,000 shares of the oilfield services company’s stock worth $2,741,000 after buying an additional 700 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Halliburton by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,470 shares of the oilfield services company’s stock worth $519,000 after buying an additional 717 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Halliburton by 67.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,839 shares of the oilfield services company’s stock worth $35,000 after buying an additional 739 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Halliburton by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 42,390 shares of the oilfield services company’s stock worth $801,000 after buying an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.

Halliburton stock opened at $21.42 on Thursday. Halliburton has a 1-year low of $6.53 and a 1-year high of $24.74. The firm’s fifty day simple moving average is $22.09 and its 200-day simple moving average is $17.98. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $19.03 billion, a P/E ratio of -4.31, a P/E/G ratio of 2.22 and a beta of 2.81.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, January 18th. The oilfield services company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Halliburton had a negative net margin of 26.60% and a positive return on equity of 11.10%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the business posted $0.32 EPS. Halliburton’s revenue was down 37.6% compared to the same quarter last year. On average, equities research analysts predict that Halliburton will post 0.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Wednesday, March 3rd were paid a $0.045 dividend. The ex-dividend date was Tuesday, March 2nd. This represents a $0.18 dividend on an annualized basis and a yield of 0.84%. Halliburton’s payout ratio is presently 14.52%.

HAL has been the topic of several recent research reports. Atlantic Securities raised shares of Halliburton from a “neutral” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Monday, January 25th. HSBC downgraded shares of Halliburton from a “hold” rating to a “reduce” rating and set a $14.20 price target for the company. in a research report on Thursday, December 10th. Northland Securities upped their price target on shares of Halliburton from $15.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, January 20th. They noted that the move was a valuation call. Cowen increased their target price on shares of Halliburton from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 20th. Finally, Smith Barney Citigroup upgraded shares of Halliburton from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.96.

In related news, insider Myrtle L. Jones sold 5,462 shares of the firm’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $23.50, for a total value of $128,357.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric Carre sold 2,350 shares of the firm’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $20.68, for a total transaction of $48,598.00. Following the completion of the transaction, the executive vice president now owns 173,320 shares in the company, valued at $3,584,257.60. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Halliburton 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 well bonding and casing, as well as provides casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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