4,065,777 Shares in Halliburton Company $HAL Purchased by Canoe Financial LP

Canoe Financial LP acquired a new position in Halliburton Company (NYSE:HAL) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,065,777 shares of the oilfield services company’s stock, valued at approximately $158,525,000. Halliburton accounts for 2.2% of Canoe Financial LP’s holdings, making the stock its 17th largest holding.

Several other large investors have also bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Halliburton by 81.8% during the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after acquiring an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC bought a new stake in shares of Halliburton during the third quarter valued at approximately $418,738,000. Norges Bank purchased a new stake in Halliburton in the fourth quarter worth $169,304,000. Finally, Holocene Advisors LP purchased a new stake in Halliburton in the third quarter worth $147,315,000. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HAL has been the subject of a number of research reports. Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Citigroup upped their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. UBS Group increased their price target on shares of Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Stifel Nicolaus reissued a “buy” rating and set a $43.00 price target (up from $36.00) on shares of Halliburton in a research report on Wednesday, April 22nd. Finally, Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.27.

Halliburton Stock Down 0.4%

Shares of NYSE:HAL opened at $34.09 on Monday. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $39.34 and a two-hundred day simple moving average of $35.69. Halliburton Company has a 12-month low of $20.09 and a 12-month high of $43.59. The stock has a market capitalization of $28.47 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.48 and a beta of 0.70.

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

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s payout ratio is presently 37.36%.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the sale, the insider owned 93,763 shares of the company’s stock, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 258,255 shares of company stock worth $10,550,535 in the last ninety days. 0.57% of the stock is currently owned by company 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.