Sheaff Brock Investment Advisors LLC Makes New Investment in Halliburton (NYSE:HAL)

Sheaff Brock Investment Advisors LLC bought a new position in shares of Halliburton (NYSE:HALGet Rating) during the 1st quarter, HoldingsChannel.com reports. The fund bought 5,415 shares of the oilfield services company’s stock, valued at approximately $205,000.

Several other large investors also recently bought and sold shares of the stock. CIBC Asset Management Inc grew its position in Halliburton by 20.0% during the 1st quarter. CIBC Asset Management Inc now owns 101,578 shares of the oilfield services company’s stock worth $3,847,000 after purchasing an additional 16,943 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of Halliburton in the 1st quarter valued at $705,000. KBC Group NV boosted its holdings in shares of Halliburton by 31.5% in the 1st quarter. KBC Group NV now owns 60,662 shares of the oilfield services company’s stock valued at $2,297,000 after acquiring an additional 14,548 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Halliburton by 23.5% in the 1st quarter. IFM Investors Pty Ltd now owns 140,988 shares of the oilfield services company’s stock valued at $5,339,000 after acquiring an additional 26,813 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of Halliburton by 14,230.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 59,759 shares of the oilfield services company’s stock valued at $2,263,000 after acquiring an additional 59,342 shares during the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

Insider Transactions at Halliburton

In other news, insider Joe D. Rainey sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $42.73, for a total transaction of $854,600.00. Following the completion of the sale, the insider now owns 310,014 shares of the company’s stock, valued at $13,246,898.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joe D. Rainey sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $42.73, for a total transaction of $854,600.00. Following the completion of the sale, the insider now owns 310,014 shares of the company’s stock, valued at $13,246,898.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lawrence J. Pope sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $40.95, for a total transaction of $409,500.00. Following the sale, the executive vice president now directly owns 273,342 shares of the company’s stock, valued at approximately $11,193,354.90. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $1,663,600 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Stifel Nicolaus upped their price objective on shares of Halliburton from $32.00 to $42.00 in a report on Friday, April 8th. Royal Bank of Canada upped their price objective on shares of Halliburton from $45.00 to $49.00 in a report on Wednesday, April 20th. Finally, ATB Capital upped their price objective on shares of Halliburton to $46.50 in a report on Friday, July 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.53.

Halliburton Stock Performance

NYSE:HAL opened at $27.79 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.60 and a current ratio of 2.15. The company has a fifty day moving average of $32.52 and a two-hundred day moving average of $34.41. The stock has a market capitalization of $25.20 billion, a PE ratio of 17.48 and a beta of 2.15. Halliburton has a fifty-two week low of $17.82 and a fifty-two week high of $43.99.

Halliburton (NYSE:HALGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Halliburton had a net margin of 8.19% and a return on equity of 19.91%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts forecast that Halliburton will post 2.01 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, May 31st. Halliburton’s dividend payout ratio is presently 30.19%.

Halliburton Profile

(Get Rating)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

Further Reading

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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