85,000 Shares in Halliburton Company (HAL) Acquired by Bright Rock Capital Management LLC
Bright Rock Capital Management LLC acquired a new stake in shares of Halliburton Company (NYSE:HAL) in the 4th quarter, Holdings Channel reports. The firm acquired 85,000 shares of the oilfield services company’s stock, valued at approximately $4,154,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Country Trust Bank lifted its stake in Halliburton by 3.0% during the 4th quarter. Country Trust Bank now owns 526,770 shares of the oilfield services company’s stock valued at $25,743,000 after acquiring an additional 15,311 shares during the period. Grassi Investment Management lifted its stake in shares of Halliburton by 8.7% in the 4th quarter. Grassi Investment Management now owns 35,701 shares of the oilfield services company’s stock valued at $1,745,000 after purchasing an additional 2,871 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in shares of Halliburton by 50.7% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,878 shares of the oilfield services company’s stock valued at $385,000 after purchasing an additional 2,652 shares during the period. Train Babcock Advisors LLC lifted its stake in shares of Halliburton by 56.4% in the 4th quarter. Train Babcock Advisors LLC now owns 45,540 shares of the oilfield services company’s stock valued at $2,226,000 after purchasing an additional 16,430 shares during the period. Finally, DnB Asset Management AS lifted its stake in shares of Halliburton by 5.8% in the 4th quarter. DnB Asset Management AS now owns 137,226 shares of the oilfield services company’s stock valued at $6,706,000 after purchasing an additional 7,500 shares during the period. Institutional investors and hedge funds own 79.79% of the company’s stock.
Shares of Halliburton Company (NYSE HAL) traded up $0.36 during trading hours on Thursday, reaching $52.47. 9,714,200 shares of the company traded hands, compared to its average volume of 9,017,771. The firm has a market capitalization of $46,580.00, a PE ratio of 218.63, a price-to-earnings-growth ratio of 3.00 and a beta of 1.03. Halliburton Company has a 52-week low of $38.18 and a 52-week high of $58.78. The company has a current ratio of 2.20, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The firm’s revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. research analysts predict that Halliburton Company will post 1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were paid a $0.18 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $0.72 annualized dividend and a yield of 1.37%. Halliburton’s dividend payout ratio is currently 300.00%.
HAL has been the subject of several analyst reports. Piper Jaffray Companies set a $53.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Monday, October 30th. FBR & Co reduced their price objective on shares of Halliburton from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Deutsche Bank initiated coverage on shares of Halliburton in a research report on Tuesday, October 10th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Cowen set a $50.00 price objective on shares of Halliburton and gave the stock a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Halliburton presently has a consensus rating of “Buy” and an average target price of $56.68.
In other Halliburton news, EVP Lawrence J. Pope sold 9,100 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $41.35, for a total value of $376,285.00. Following the transaction, the executive vice president now directly owns 180,646 shares in the company, valued at $7,469,712.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Lesar sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the transaction, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The disclosure for this sale can be found here. Insiders sold 141,612 shares of company stock worth $6,556,433 over the last quarter. 0.47% of the stock is currently owned by insiders.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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