Capital Research Global Investors Grows Stock Position in Halliburton Company $HAL

Capital Research Global Investors grew its holdings in shares of Halliburton Company (NYSE:HAL) by 21.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 110,220,971 shares of the oilfield services company’s stock after purchasing an additional 19,190,520 shares during the quarter. Capital Research Global Investors owned approximately 0.13% of Halliburton worth $3,114,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital International Sarl increased its position in shares of Halliburton by 243.6% during the 4th quarter. Capital International Sarl now owns 77,742 shares of the oilfield services company’s stock valued at $2,197,000 after purchasing an additional 55,114 shares during the last quarter. Capital International Inc. CA increased its position in shares of Halliburton by 14.1% during the 4th quarter. Capital International Inc. CA now owns 186,310 shares of the oilfield services company’s stock valued at $5,265,000 after purchasing an additional 23,065 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Halliburton during the 4th quarter valued at about $103,000. Cookson Peirce & Co. Inc. increased its position in shares of Halliburton by 164.0% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 108,397 shares of the oilfield services company’s stock valued at $3,063,000 after purchasing an additional 67,343 shares during the last quarter. Finally, Havemeyer Place LP purchased a new stake in shares of Halliburton during the 4th quarter valued at about $743,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 5.1%

HAL stock opened at $39.12 on Friday. Halliburton Company has a 1-year low of $20.09 and a 1-year high of $43.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The company has a market capitalization of $32.68 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.69 and a beta of 0.69. The business has a 50 day simple moving average of $39.77 and a two-hundred day simple moving average of $34.55.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio is currently 37.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Citigroup upped their price target on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Rothschild & Co Redburn upped their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, May 15th. TD Cowen upped their price target on shares of Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.27.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 158,455 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,013,027 shares in the company, valued at approximately $40,521,080. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tobi M. Young sold 6,125 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director owned 15,250 shares of the company’s stock, valued at $636,230. This represents a 28.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 416,991 shares of company stock worth $16,846,948. 0.57% of the stock is owned by corporate insiders.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.