Brown Brothers Harriman & Co. Raises Stock Position in Halliburton (NYSE:HAL)

Brown Brothers Harriman & Co. grew its stake in Halliburton (NYSE:HAL) by 28.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,759 shares of the oilfield services company’s stock after purchasing an additional 393 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Halliburton were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in shares of Halliburton by 131.8% in the first quarter. Janus Henderson Group PLC now owns 278,194 shares of the oilfield services company’s stock worth $10,963,000 after acquiring an additional 158,169 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Halliburton during the first quarter worth $1,616,000. B. Riley Wealth Advisors Inc. raised its position in shares of Halliburton by 25.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 23,971 shares of the oilfield services company’s stock valued at $971,000 after buying an additional 4,849 shares during the last quarter. Comerica Bank raised its position in shares of Halliburton by 0.4% in the first quarter. Comerica Bank now owns 247,937 shares of the oilfield services company’s stock valued at $9,774,000 after buying an additional 1,062 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Halliburton in the first quarter worth about $1,370,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on HAL shares. Dbs Bank assumed coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective for the company. BMO Capital Markets cut their price target on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. UBS Group reduced their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group dropped their price objective 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. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.74.

Halliburton Stock Up 0.2 %

NYSE:HAL opened at $31.88 on Friday. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The stock’s fifty day moving average is $29.67 and its two-hundred day moving average is $31.89. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 3.94 and a beta of 1.89. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Research analysts anticipate that Halliburton will post 3.01 EPS for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Halliburton 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.