Advisors Asset Management Inc. increased its holdings in shares of Halliburton (NYSE:HAL – Free Report) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 138,669 shares of the oilfield services company’s stock after acquiring an additional 6,017 shares during the period. Advisors Asset Management Inc.’s holdings in Halliburton were worth $4,028,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HAL. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Halliburton by 260.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 154,286 shares of the oilfield services company’s stock valued at $4,482,000 after purchasing an additional 111,482 shares during the period. Prospera Private Wealth LLC bought a new stake in Halliburton in the third quarter valued at $253,000. Avior Wealth Management LLC raised its stake in Halliburton by 204.3% during the third quarter. Avior Wealth Management LLC now owns 2,498 shares of the oilfield services company’s stock worth $73,000 after acquiring an additional 1,677 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Halliburton by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 742,334 shares of the oilfield services company’s stock valued at $21,565,000 after acquiring an additional 8,405 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Halliburton in the 3rd quarter valued at $6,253,000. Institutional investors own 85.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Jefferies Financial Group reduced their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $44.00 to $37.00 in a report on Friday, September 13th. BMO Capital Markets cut their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group decreased their target price on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.74.
Halliburton Stock Performance
Shares of Halliburton stock opened at $31.94 on Friday. The firm has a fifty day moving average of $29.45 and a two-hundred day moving average of $32.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The stock has a market capitalization of $28.06 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 3.75 and a beta of 1.89. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56.
Halliburton (NYSE:HAL – Get Free Report) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, equities research analysts predict that Halliburton will post 3.01 EPS for the current year.
Halliburton Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is presently 23.69%.
Halliburton Company Profile
Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.
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