Glacier Peak Capital LLC Takes $4.11 Million Position in Halliburton (HAL)
Glacier Peak Capital LLC purchased a new stake in Halliburton (NYSE:HAL) during the first quarter, HoldingsChannel reports. The firm purchased 87,522 shares of the oilfield services company’s stock, valued at approximately $4,108,000. Halliburton makes up about 2.5% of Glacier Peak Capital LLC’s holdings, making the stock its 18th largest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Madison Investment Holdings Inc. acquired a new position in shares of Halliburton during the 4th quarter worth approximately $4,875,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Halliburton by 42.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 498,021 shares of the oilfield services company’s stock worth $24,338,000 after acquiring an additional 148,155 shares during the period. Tyers Asset Management LLC lifted its holdings in shares of Halliburton by 36.9% during the 4th quarter. Tyers Asset Management LLC now owns 16,192 shares of the oilfield services company’s stock worth $791,000 after acquiring an additional 4,368 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Halliburton during the 4th quarter worth approximately $3,680,000. Finally, Financial Counselors Inc. lifted its holdings in shares of Halliburton by 23.7% during the 4th quarter. Financial Counselors Inc. now owns 123,141 shares of the oilfield services company’s stock worth $6,018,000 after acquiring an additional 23,557 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.
Shares of Halliburton traded up $0.29, reaching $47.96, during trading hours on Thursday, according to Marketbeat Ratings. 508,760 shares of the stock traded hands, compared to its average volume of 8,916,713. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.22 and a quick ratio of 1.73. Halliburton has a 52 week low of $38.18 and a 52 week high of $57.86. The firm has a market capitalization of $41.92 billion, a P/E ratio of 39.31, a PEG ratio of 2.41 and a beta of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 5th. Halliburton’s payout ratio is currently 59.02%.
A number of brokerages have recently weighed in on HAL. Bank of America raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, May 10th. ValuEngine downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Wells Fargo & Co upped their price target on shares of Halliburton from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Jefferies Financial Group set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Monday, April 23rd. Finally, Barclays reissued a “buy” rating and issued a $64.00 price objective on shares of Halliburton in a research note on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. Halliburton presently has a consensus rating of “Buy” and an average target price of $59.08.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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